rb5_336

I hear that running a classic car as a company car has excellent tax benefots, anyone know aby details ? i'm self employed (contractor) and this sounds interesting if true

cheers
sean

RON

Not sure of exact details, but I think you'd be taxed at the original purchase price, ie, 1968 or whenever the car was new!!!

GC8

Self employed people dont pay company car tax. Youd be better off enquiring at your local tax office than asking here.

GaryK

Surely if you are a director of the company on PAYE then you pay company car tax as normal? If you were a sole trader then agreed you could only claim for use of car as an allowable expense and yes the taxable amount is against the original purchase price of the car when it was new.

Gary

Poor Guy

you get taxed on its purchase price i do beleive.
my mk3 GT6 brand new was around £900.