Hi,
My company has requested me to get a personal contract hire. I will be paying the installments myself and pass them to the company as expenses. Obviously, I will be using the car for business purposes but also for private use during the weekends.
Can you let me know how it will affect to my taxes? Is that a BIK or should be treated as a normal income, I mean, the installments?
Is that a company car or a car allowance?
How can I calculate it? Which one will cost me less?
Can you please help me out? I would like to get it but it depends on how it will affect to my net salary at the end of the month.
Than you in advance,
mj