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Is There VAT on Road Tax?
VAT is the consumption tax that the government charges on most goods and services, which includes cars and other motor vehicles that use the UK roads. However, there can be some confusion on whether road tax has VAT applied or if it’s exempt. Here’s the simple answer to whether UK road tax has VAT: No,…
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Capital Allowances on Electric Cars: Understanding Benefits & Regulations
As the shift toward sustainable transportation continues, electric cars are increasing in popularity with individuals and businesses. In addition to their environmental benefits, electric cars can offer financial advantages through capital allowances. In this guide, we will explain capital allowances on electric cars, plus whether they qualify for 100% capital allowances, the HMRC allowances, and…
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VAT on Leased Cars: Can You Claim Back VAT?
The complexities of the UK tax system throw up many queries from small business owners, with the question of claiming VAT on lease cars being no different. It’s often a grey area, but we’ve put together the ultimate guide to the understanding VAT on leased cars. Firstly though, let’s answer the most pressing question you…
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Can My Wife Drive My Company Car? (Partner / Husband)
One of the benefits of being employed is you might be able to get a company car. There are tax implications of course, but for some employees, it makes sense to get a company car from your employer. Where things can get murky is whether family members can take advantage of this benefit. For example,…
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Can Company Directors Have Two Company Cars?
Company directors can buy or lease a company car and then must pay tax on the vehicle if it’s used for personal driving. This is a very common approach, and one that directors all over the UK. But what about having two company cars as a director? Is this possible and what are the implications?…
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Can I Give My Wife a Company Car? (For the Director’s Wife)
One of the benefits of running your own business is being able to get a company car. Yes, there are tax implications, but for some business owners, it makes sense to get a car through their limited company. But what about your family members? For example, is it possible to get a company car for…
