Limited Company - Company Cars (Buying/business lease)

KaHn · 16 Nov 2012 at 09:12

Cheers for the help

I'm still looking at business leases as the BIK doesn't seem too high and it doesnt have the initial outlay of cash. I can afford to lose the payments from the company each year and look at buying something in a year or two when the company has a large amount of cash in the account.

Thanks again for the help, owe you both a beer

KaHn

torinn · 20 Nov 2012 at 20:47

I'm sure I read some where, that depending on the emissions you can claim back 100% of both the initial rental and the monthly payments of a contract hire scheme as business expenses.

[TW]Fox · 20 Nov 2012 at 20:53

torinn said:
I'm sure I read some where, that depending on the emissions you can claim back 100% of both the initial rental and the monthly payments of a contract hire scheme as business expenses.

This is true - 100% below 160g/km, 85% above.

Pudney · 20 Nov 2012 at 21:01

[TW]Fox;23208520 said:
This is true - 100% below 160g/km, 85% above.

130g/km from April which should be factored in when looking at cars.

Edit: All I do is clarify what you say

Pulsedriver · 29 Jan 2013 at 20:51

Sorry to bring this up, but turns out the new Audi A3 Sportbacks are 108g/km emissions, I do not want to get into the Audi vs BMW debate

as I am happy to say both are nice cars!

So the above means, if the rental was,say, £250+vat a month, you could claim the £250 as a business expense, plus 50% of the VAT back as well (provided you are a VAT registered company)