Using a Vehicle For Business
Summary – Tax Implications of Using a Vehicle for Business
We hope you have enjoyed our series of 7 articles outlining the tax implications of using a vehicle for business.
Most business owners will use a vehicle in the course of running their business, at least to some degree. From a tax point of view this is an opportunity to get things very right or very wrong and it is good to understand this BEFORE buying a new vehicle. If you are thinking of changing your vehicle you should understand the tax implications. The type of vehicle you drive, how you choose to finance the purchase of that vehicle and whether you operate as a sole trader or a Limited Company can all have significant tax implications.
(Unfortunately a Rolls Royce Phantom is not very tax efficient unless you want to let the staff have the use of a really nice pooled vehicle!)
FHM Accountants are a pro-active, award-winning firm of Chartered Certified Accountants & Registered Auditors with offices in Gorey and Bray serving clients all over the country.
The series of articles are for illustrative purposes only and do not constitute professional advice. To make an appointment to discuss any of the issues raised in these articles or the services we provide please e-mail firstname.lastname@example.org.