Cars which qualify for 100% tax write-off

On the up side, cars that have CO2 emissions of 110g/km or less may be eligible for a 100% write-off for tax purposes in the year of purchase. A non-business use restriction may apply where the car is used by the proprietor/partner of a self-employed business. Such a restriction does not apply to companies providing cars to employees but there is generally an employment benefit taxable on the employee instead.

The list of vehicles that come within this range of CO2 emissions is gradually getting longer and some of the more interesting on the list include:

  • BMW 3 series saloon - 320d Efficient Dynamics;
  • Audi A1 and A3;
  • Mini Hatch, Clubman, Cambden and Mayfair;
  • various VW Golf and Polo models.

If the cars are provided to employees by employers, then the employment benefit will broadly be 10% of the list price for petrol cars and 13% for diesel. So, tax efficient for the business and tax efficient for the driver.

Link: Comcar

Our other services...

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We can help with the preparation of accounts for all types of business. Whether you are a Sole Trader, Partnership, Limited Company, Limited Liability Partnership or a Charity, AGP has the expertise to deal with you. We help you fulfil all your obligations with HMRC, Companies House and any other regulatory body that you are required to report to.

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It is important to ensure your tax planning reflects any changes to your circumstances which is why we work very closely with all our personal clients. AGP are trusted to manage tax efficiently. Sometimes just a simple review of your personal tax circumstances can reveal significant tax saving opportunities which can be realised quickly and at minimal cost..

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When running a business, priorities are often focused on the operational side of your business. Bookkeeping & administration can often be put off until it becomes quite a major task. By taking advantage of our bookkeeping service, we can take this problem away so you can get on with running your business while we manage your accounting books.

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We take away the hassle. Whether starting a new business or restructuring an existing one, our extensive knowledge of company formation means we can advise you on the merits and possible pitfalls of incorporation.

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We have a wealth of experience in the contractor market and as a result there are not many firms of Chartered Accountants that can claim they know the contractor industry as well as AGP. This leads to a number of benefits.