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car taxes, or pay rise -
25-06-2007, 03:36 PM
HI, I am trying to work out if it more cost effective to give a company car to an employee or give him a pay rise, rent the car, and take the cost out of his salary.
Would this still be a benefit...or is it easier just to send off a p46 car? 
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(#2)
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Re: car taxes, or pay rise -
26-06-2007, 03:37 PM
Even a rented car is calssed as a benefit in kind and the employee will get taxed on it at the standard rate.
If they buy a car and charge the business at 40 pence per mile then at least they won't get taxed further.
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