Does it make sense to buy my new electric car through the business?

Audi E-Tron GT

Does it make sense to buy my new electric car through the business? Q I want to buy an electric car: should I put it through the business? A: In a word, yes. In the past, given the high tax consequences, I have regularly advised clients against putting their car through the business: only on the rare […]

HMRC Clarifies Salary Sacrifice Car Scheme Tax

HMRC

HMRC Clarifies Salary Sacrifice Car Scheme Tax As reported previously, Salary Sacrifice schemes changed in April 2020 when the government provided further clarification around tax for fully electric, hybrid and other low emission vehicles. Further increasing the attractiveness of getting a new vehicle via a salary sacrifice scheme. For electric cars, the BiK rate is […]

Company car users on furlough can save thousands of pounds

BIK

Company car users on furlough can save thousands of pounds Furloughed employees with company cars they are not using in the lockdown could save thousands of pounds in tax by returning the car to their employer. Millions of people across the UK have been furloughed in a government-backed scheme that pays 80 per cent of […]