Company Cars

Once seen as a great tax benefit, the government has gradually eroded the tax benefit of owning a company car. Whether you will benefit from such a purchase will depend on a variety of factors, such as the value of the vehicle, engine capacity and especially the mileage you would build up on contractor business. The majority of contractors will almost always be better off without a Company car, but to buy it personally and charge a mileage allowance. Check with your accountant first!