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Search results: 23 article(s) found in topic: Benefits - keyword: Cars

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Salary sacrifice tax to rise for some company cars

HMRC recently announced that it had spotted two mistakes in the relatively new rules for salary sacrifice arrangements involving cars and vans. It’s published draft legislation to correct the errors. How and when will they take effect? More...


Was it really a low-key Budget?

The pre-Budget rumours didn’t come to much in the end; however, the Chancellor announced a few interesting changes. How might they affect you or your business? More...


100% capital allowances extended for green cars

In his 2016 Budget the Chancellor announced that the capital allowances (CA) tax break for low emission company cars will continue, but subject to tougher limitations. How should you plan your vehicle purchases to maximise tax relief? More...


New rules on company cars

Two new rules have been created to counter certain company car and van schemes that HMRC considers unfair tax avoidance. When will they take effect and what action should you be taking before then? More...


What should you do with an ageing company car

Company cars are taxed according to their original list price and CO2 emissions. This means if yours is getting a bit long in the tooth it might not be tax efficient. Can transferring ownership from the company to you solve this? More...


Company car tax-saving arrangement quashed

If you provide cars for directors, they’ll usually be caught for tax under the benefit-in-kind (BiK) rules. But one business came up with a special scheme to get around these by using a partnership. What’s the tribunal’s current view on this? More...


Expensive cars - tax-free accessories for high rollers

This year’s Finance Act will include a retrospective change to the rules for working out tax on company cars which have been “security enhanced”. What does this mean and who will be affected? More...


Avoiding a fuel scale charge

Recently, the tribunal considered whether a director owed tax on fuel paid for by his company. Given the facts, it seemed inevitable the case would go the Taxman’s way. What went wrong for the director and how can you avoid the same mistakes? More...


Company car or mileage allowances?

In April, the Taxman’s Approved Mileage Allowance Payment rates (AMAPs) increased for the first time in years. Might you now be better off providing employees with a company car instead of paying them the increased amount? More...


Which should you take - cash or a car?

The tax and NI you pay on your luxury company car has gone through the roof over the last few years. You’ve decided to transfer the car into your personal name to avoid this. What’s the most tax-efficient way to do this? More...
Last updated: 28.05.2020

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