Company Car Vs Employee Loan

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What is anyone's thinking on the benefits of issuing an employee loan at the preferential rate of BIK to buy a personal car as opposed to getting taxed at the 30% rate when the company gives you a company car. This question really relates to a two director company and they are considering both options
 
It really depends on the value of the car and the level of business mileage. What value are you thinking?

A €30,000 car has a BIK for low business mileage of €9,000 with a tax of €4,590. The company has to tax, insure, fuel and maintain the car.

A loan of €30,000 (If within the 10% rule) will attract an upfront payment of CT €7,500 and then an annual charge of 13% BIK of €3,900 with tax of €1,989. The directors has to tax, insure, fuel and maintain the car. He can charge mileage depending on business mileage. He also has to repay the loan to the company in line with the depreciation on the car so that when its traded in he does not end up with a low value car and a big loan to the company.
 
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