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Leasing Guide
Alfa Romeo Car Leasing, Aston Martin Car Leasing, Audi Car Leasing, Bentley Car Leasing BMW Car Leasing, Citroen Car Leasing,
Fiat Car Leasing, Ford Car Leasing, Honda Car Leasing, Jaguar Car Leasing, Land Rover Car Leasing, Lexus Car Leasing, Mazda Car Leasing,
Mercedes Car Leasing, Mitsubishi Car Leasing, Nissan Car Leasing, Peugeot Car Leasing, Porsche Car Leasing, Renault Car Leasing,
Saab Car Leasing, Skoda Car Leasing, Toyota Car Leasing,Vauxhall Car Leasing, Volkswagen Car Leasing, Volvo Car Leasing
We are an appointed broker of Lombard North Central PLC
There are two ways to reduce your tax bill on a company car – choose one with a lower list price and / or one in a lower tax scale. Company cars are taxed on their list price (not transaction price), excluding road tax and registration fee. This is recorded on a form called P11D and includes optional equipment, so think hard before loading up your car with all those extras ! Adding Leather, Metallic paint and an ‘auto’ box onto your Mercedes E220 Classic for instance will cost you more than £800 in extra tax over 3 years.
As for the tax brackets, cars are graded into percentage bands on their official carbon dioxide (CO2) emissions and their fuel type; the lower the percentage banding, the lower the tax bill. There are discounts that use alternative fuels and a 3% surcharge for diesels that fail to meet the latest Euro IV emission regulations.
You must add 3% to the tax band of any diesel which does not meet Euro IV emissions standards. These will become compulsory for new cars from Spring 2005 and all models 6 months after that. Any diesel which complies now is exempt from the penalty.
The Car Leasing Centre’s Inland Revenue Website Links
