Company cars continue to cause complications two of which are worth bearing in mind.
First ‘pool’ cars. It’s tempting to think that if a car is generally available to anyone who needs to drive it it must be a pool car and therefore not taxable as a benefit in kind on anyone. Tempting but sadly not often true. To be exempt the car must be one which is:
actually used by more than one employee or director;
not ordinarily used by one employee or director to the exclusion of all others;
not normally kept overnight at or near the home of a director or employee (except where it’s kept overnight on premises occupied by the employer); and
...
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Company cars continue to cause complications two of which are worth bearing in mind.
First ‘pool’ cars. It’s tempting to think that if a car is generally available to anyone who needs to drive it it must be a pool car and therefore not taxable as a benefit in kind on anyone. Tempting but sadly not often true. To be exempt the car must be one which is:
actually used by more than one employee or director;
not ordinarily used by one employee or director to the exclusion of all others;
not normally kept overnight at or near the home of a director or employee (except where it’s kept overnight on premises occupied by the employer); and
...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")