Finance and Taxation For Company Cars

Why have we produced this publication? Making the right decision when acquiring a vehicle for company use, or whether to allow drivers to opt-out of company car schemes, is becoming an increasingly more complex activity.

The best way for a business to acquire and fund a company vehicle is determined by a combination of factors including: funding methods, business and personal taxation, national insurance contributions, capital and revenue allowances, whole life costs (WLC), CO2 emissions, Benefit in Kind, and Authorised Mileage Allowance Payments (AMAP), to name but a few.

In order to assist the process, we have compiled this comprehensive guide, using plain English, to describe what the main areas of Finance and Taxation are and more importantly what they mean in a day-to-day context.