Company Car Tax
If an employee who earns more than £8,500 a year is given a company car, there is a tax charge on the benefit given to the employee.
The tax payable on company car benefit-in-kind can be an important consideration for businesses providing company cars, whether to a team of sales staff, for example, or simply to the key employees.
But with the tax on car benefits increasing all the time, staff may not feel they are getting a benefit at all and it is even possible for an unexpected (and unwelcome!) tax charge to arise if an employee only makes occasional use of a car available to all employees.
So careful planning is needed and at Barnes Roffe we can help and advise you on the best way to provide this type of benefit to your employees, and ensure that all your compliance and tax requirements are met.
Our team of tax advisors are dedicated to helping our clients with this type of strategic decision. So no matter your decision in regards to company cars, with our support you can forget about the complications of working out these taxes and instead focus on maximising the success of your business.
Contact our tax advisors today and let us help you to meet your company car benefit obligations in the most tax efficient way.Talk to Barnes Roffe today Barnes Roffe has tried to ensure that the contents and information it provides in its website is accurate at the time of posting. Unfortunately it cannot guarantee the accuracy of contents or information contained in its pages and any person choosing to act on this information should contact a Barnes Roffe partner prior to taking any action