FAQs About Our Tax Guides
This will depend on your specific circumstances, Corporation Tax, Income tax, VAT and National Insurance contributions for both the employer and employee are all areas that need to be taken into account. We are here to offer true independant analysis to ensure you have a clear and complete understanding.
The UK Government is still offering grants to incentivise the take up of low Co2 vehicles, these are dependant on meeting certain crieria and are limited in availability. Reach out and we can help identify grants that may be available to you.
There are recommended rates from HMRC which dictake the maximum values that can be paid to an employee for using their personal vehicle for business use, payments made above these values will incur a tax charge. We can look at this for you in more detail and help make sure that the amounts you reimburse are both fair to your employee and cost effective for your business.
Recent changes have meant a potential increase in costs. Please take alook at our Vehicle Excise Duty table and reach out to us for more information.
Depending on the type of vehicle and its usage this will vary, also the method by which your veicle is acquired will determine the VAT treatment. Our VAT tables provide a useful guide but for more specific information reach out and we we will be happy to help.
New tax legilation which went live in April 2017 has tax implications for running a salary sacrifice car scheme. This now reduces the tax benefit obtained for cars with a Co2 value of greater than 75gms. Whilst some salary sacrifice schemes are still a valid and effective way to provide cars to your employees careful consideration is needed.. Please reach out, we are here to help.
Please take a look at our Capital Allowance guide or reach out to one of our team of specialists for more specific information.