Whoever said it’s not that easy being green has obviously never looked into the advantages of tax breaks for new energy efficient cars.
As strategic accountants, we would be the first to point out that having a company car has traditionally been an expensive option. But now it seems that caring for the environment could be great news for your business budget as well as the planet. Many of us are increasingly looking to reduce our carbon footprint on both a personal and a professional level. Making that change also gives you the opportunity to enhance your company’s corporate social responsibility.
Look out for the planet – and your finances
If you’re someone who tries to take care of the environment and reduce their energy consumption, you may be pleased to know that the old rule which says that running a company car is expensive has changed, thanks to tax breaks for energy efficient cars. This is true for brand new cars with less than 75 g/km, due to a benefit in kind charge of just 5% of the list price and 100% capital allowances in year 1.
This tax break offers a great benefit to business-owners who want to be green as well as cost-conscious. However, it is essential to remember the golden rule: never pay employees for private mileage as it is very expensive.
Want to know more?
Wondering whether you’re missing out on the tax advantages of running an energy efficient company car? We would be delighted to advise you on your options. Please contact us now on 0115 871 5842 or email us at: firstname.lastname@example.org.