Company Car tax Question
#1
I just decided I should look into this company car tax changes..
I have my own limited company and a company car.
The car is a MY96 5door scooby... I am currently paying something like 15% of list price on this for over 18,000miles... although discounted slightly as I pay my personal use petrol.
I believe I would be paying something like 40% for a new impreza
but not sure what happens when the car is older? is there a list for C02 emissions for every car or only new ones?
Is there an age at which point the car tax is less?
Help..
currently I think I am going to have to buy the car back from my company and charge for using it for company use.
Cheers for any responses
ho ho JGM
I have my own limited company and a company car.
The car is a MY96 5door scooby... I am currently paying something like 15% of list price on this for over 18,000miles... although discounted slightly as I pay my personal use petrol.
I believe I would be paying something like 40% for a new impreza
but not sure what happens when the car is older? is there a list for C02 emissions for every car or only new ones?
Is there an age at which point the car tax is less?
Help..
currently I think I am going to have to buy the car back from my company and charge for using it for company use.
Cheers for any responses
ho ho JGM
#2
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Join Date: Apr 2001
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Jolly, cars up to four years old are taxed in the following way, take list price and times by 35%, your are then taxed on this figure based on mileage. If the car is older than 4 years, times the list price by 25%, again the tax is then based on mileage.
I hope this helps
Mark
This used to confuse me, the tax office were always screwing up, so i opted for a car allowance.
Also the mileage tax is being scapped in april 02
[Edited by mark.coleman - 12/21/2001 11:39:21 AM]
I hope this helps
Mark
This used to confuse me, the tax office were always screwing up, so i opted for a car allowance.
Also the mileage tax is being scapped in april 02
[Edited by mark.coleman - 12/21/2001 11:39:21 AM]
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