Budget 2014 – Benefits in Kind

In a bid to encourage the use of lower emission cars, the emissions bands used to calculate benefits in kind on company cars are reducing further still over the next few years.

This will further increase the cost of having a company owned car and reinforces previous advice that in the vast majority of cases for owner managed companies, it is not beneficial to own business cars through the company.

Vans remain, in most cases, a much more tax efficient vehicle to run through a company as the flat rate benefit in kind was only slightly increased in line with inflation to £3,090.  Vans with no private use also remain tax free.

With manufacturers producing vehicles such as double cab pickups, which still meet the criteria to qualify as a van for tax purposes but in many cases still have the luxuries of a car, you may wish to consider one of these vehicles.  Vans are no longer just for removal men!

<Feb 2018>
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Feb 23

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We have been clients of Dodd & Co from when we established our first business in 1983. Throughout our years of working together, as our businesses have evolved we have found their advice to be sound, practical and relevant. This has enabled us to feel confident and secure in the knowledge that we are being looked after in a professional manner in all our financial planning. Being true professionals, they always respond in a prompt and courteous manner to any enquiries regarding the working details of our businesses. Their dedicated staff are always available to assist with any queries which may arise in a working day. We have always been more than satisfied with the guidance we have received from Dodd & Co and would have no hesitation in recommending their services to anyone requiring financial guidance.
-- Malcolm, Dorothy & Andrew Laverick.