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