Cutting the cost of a company car | Tax Tips | Galley & Tindle

Cutting the cost of a company car | Tax Tips | Galley & Tindle

You want to help your young son replace the ancient car he currently drives. The plan is for your company to buy it but for the running costs to be met by your son. That’s fine with him but is there a more tax and cost-effective alternative? The tax factor There’s no denying it, cars are expensive whether purchased personally or by your company. What’s more, if your income is derived from your business, tax plays a major factor in the overall co…