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

 

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]

 

Have a look at

http://www.inlandrevenue.gov.uk/pdfs/ir172.htm