So, you fancy a new car, and you are considering buying it through the company. Maybe your company has had a bonanza year and you can afford it.
We posted a blog in December last year about the pros and cons of buying a car through the company. Business vehicles that emit no more than 95g CO2 per kilometre qualify for a 100% capital allowance. Fewer cars qualify for this generous tax relief, but the Porsche Panamera S E-Hybrid with CO2 emissions of just 71g/km does qualify!
With a top speed of 167 mph, 328 bhp, a 2.3 litre V6 petrol engine and a decent 95 bhp with its electric motor, maybe all our dreams have been answered. The List price is £88,967, but with zero Road Tax, and the 100% write off, maybe it is worth a test drive.
The tax relief is only available if the car is used by directors or employees. For sole traders and partners, the relief is restricted by any private use proportion.
Happy Motoring!
Any questions? Schedule a call with one of our experts.
Sumit Agarwal Sumit Agarwal (ACMA ACA India), the Managing partner of dns accountants is a highly respected accountant with expertise in helping owner-managed businesses.
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