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!

<May 2018>
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May 22

No events today
I had recently finished my VT year and had started ­working as an associate at a practice just outside Aberdeen. I asked several other dentists in the area and the only name people spoke was Dodd & Co. I have been with them for two years now and their ­service has been impeccable. So far everyone I have dealt with has been friendly, knowledgeable and helpful. They have answered every one of my questions promptly (no matter how stupid they may have been) and have given me great advice regarding many aspects of our taxation system. I have had and will have no qualms in recommending them to anyone else in our profession.
-- Stuart Crook