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  • RE: Leasing an electric vehicle - corporation tax relief

    Sorry, I will clarify, it’s a 100% electric car, so I understand Benefit in Kind is 2%. So personal Use only should be fine even if bought from the company? We are a VAT registered, UK limited business. We wish to purchase a car for personal use only through the company, which has a low BIK tax. I understand that if the car is purchased outright, 19% is deducted from corporation tax. Does this corporation tax reduction apply also if the car is leased or bought via hire-purchase?
  • Leasing an electric vehicle - corporation tax relief

    We are a VAT registered, UK limited business. We wish to purchase a car for personal use only through the company, which has a low BIK tax. I understand that if the car is purchased outright, 19% is deducted from corporation tax. Does this corporation tax reduction apply also if the car is leased or bought via hire-purchase?