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      07-12-2013, 05:49 AM   #25

Drives: BMW 335i SE Cabriolet
Join Date: Mar 2012
Location: LONDON

iTrader: (0)

Originally Posted by Boz335i View Post
Very tempting to go for the M3 deal.

What's the best way to do it, privately or put it through my wife's company?

I tried the HMRC website but that comes back as 8K p.a. in tax if it's a company car. There must be another way of using money in the company to pay for the deal, any ideas?
There is no point in sticking a car like an M3 on the company books as you will get hit massively on car tax as you've found out. The only benefit would be that you could claim some of the VAT back but the money you get back from that is nowhere near enough to justify paying the huge car tax figure you'll end up with. So if you want to put a car on the company books either by something else which doesn't get you crucified by the taxman e.g. a Prius or just lease it personally.

You can often get the exact same lease deals on a personal lease as a business lease. The difference in figures that you see between the two is usually due to the lease companies being cheaky and removing the vat figure from the business lease deals when in reality they will both end up being the same.