Do You Know The Tax Implications Of Providing a Company Car?
11th February 2020
Offering a company car as a benefit can be a valuable and attractive perk to any valued employee.
Unfortunately, it is not necessarily a tax-free perk and it may be liable for PAYE, because HMRC considers the private use of a company car to be a benefit-in-kind. In some cases it can even be quite costly to the employee, especially if the company also pays for the fuel.
Our latest report explores the tax implications of providing a company car and whether it pays off to provide low or zero-emission cars?
The report covers the following topics:
- Calculating Tax and Company Cars
- List Prices
- Benefit in Kind Percentage
- Reporting Obligations
- Future Company Car Tax Rates
- Zero and Low-Emission Cars
To read our full report click this link. If you need to talk to Porter Garland about providing employee benefits, call Amanda Williams or Thomas Pottinger on 01276 674870.