So we’re back on the company cars again, and I just wanted to remind you if you are looking, on the last video we talked about, big gas guzzlers expensive cars. I want to talk about the smaller car. You know the one which is a very economical and where the carbon emissions are under 50 CGM. So one of those to look at there is, they are very effective for tax right now.
Not only are the allowance is really good to fix here and writing down allowance, which means you get full tax reduction from the full amount of your payments. So if you buy a car for 15,000 pounds, that’s 15,000 pounds is going to come off your profits and you’re going to pay 20% or 90% tax on that amount.
So definitely worth looking at. And of course the benefits in kind. Oh no, because it is a low emissions car. So all of those things are working in your favor right now. So remember bunch of days on most of the 11th so get in there now, if you’re thinking about car. Never make decisions for tax purposes alone.
If you’re going to make the decision anyway in the next month or three, then accelerate the decision. But if you’re not going to replace your car for another three years, please don’t do it because of this. And this is simply not worth it. Yeah. We call that, you’re getting the tax tail to wag the business dog.
It’s not a good idea. Or I always business first, tax second. Okay, tax will take care of itself. If your business is really good and it’s working, if it’s growing, it’s more profitable. The tax will sort itself out. If your business is not run very well in tax can be a real burden so focus on your business and the tax should take care of itself.
These are tips to help tax take care of it for you. Take care. All the best. Bye bye happy motoring, safe motoring either.
