hi guys

I opened a business last year for the first time.  Someone mentioned to me that I should have a car through the business rather than payng for it privately.  Has anyone one else been in this situation before and what where the pros and cons of having a car through the business? :-)  thanks in advance

This link may be of help to you http://www.clearlybusiness.com/finance/tx_company_car_tax.jsp

We have our own Ltd Company, but run our own cars, but we do have a Company car for an employee, so we suffer :rolleyes:  both sides of it :)

My company contributes towards the running costs of my private car, that way I dont get hammered for company car tax. There are two ways of claiming for a car either as a % of total running cost for the milage done eg if you do 10000 miles a year and 8000 are for business you could claim 80% or you can claim up to 49p per mile.

I thought that it was 40p per mile for the first 10,000 and then 25p after that ?

Daisy

Claimable expenses

Oops sorry - all I remember is that it didnt come close to the running costs of my car so Im saving my reciepts and charging back as a % of actual cost. Latest estimate is that it costs me about £1 per mile to run my car :o