We’re open for business over Christmas! (We are closed Xmas, Boxing and New Year’s Days and from 2pm Xmas and New Year’s Eve)
Mon to Fri: – | Sat: –
If you’re an employee being offered a company car or van, then congratulations because it can be a great practical benefit. However, before you say ‘yes’, make sure you take the time to understand what it means for you, your finances and responsibilities, so read on.
A company vehicle is a car or van owned or leased by a business and used either by the owner/director of the company or given to an employee for their use. A company vehicle can be given to an individual or else provided as a pool car or van for several employees to use. It can be given as a necessary tool for the employee to be able to do their job, or in recognition of an employees’ status or contribution to the business. A company car or van can be provided for combined business and private usage or else only for business use.
A ‘company vehicle’ can be offered by any type of employer - not just a ‘company’. Types of businesses that typically offer company vehicles include sole traders and other types of self-employed persons, Limited Liability Partnerships (LLP), charities, embassies, local or government Authorities as well as Limited Liability Companies (LTD) and Public Limited Companies (PLC).
A ‘company car or van’ is usually given for combined business and private usage but can sometimes be given exclusively for business use.
NB: The benefits and taxation rules are the same for employees as they are any company director being given a company car or van, therefore where the term ‘employee’ is used, this includes reference to any company director being given a company car/van.
A company car or van offers employees the following great benefits:
As an employee, there are responsibilities to be aware of however if you take a company vehicle:
Do also consider the following factors if you’re being offered a company vehicle:
If you'd like to speak with our friendly team about business vehicle leasing, simply call 0118 920 5130 or email us at: enquiries@selectcarleasing.co.uk
If you're thinking about business car leasing, we have a collection of informative guides on all aspects of business leasing to make the process as simple as possible.
This easy-to-read, essential guide to company car tax for employees explains not only what company car tax and benefit in kind (BIK) are, but also how they’re calculated and what employees can do to help minimise the amount payable.
If you’re an employee being offered a car allowance, you may be wondering ‘what’s involved?’ Well this guide explains everything you need to know, including your responsibilities, the benefits and consideration points, as well as up-to-date information on how a car allowance will impact you financially.
If you’re an employee being offered a car allowance, you may be wondering ‘what’s involved?’ Well this guide explains everything you need to know, including your responsibilities, the benefits and consideration points, as well as up-to-date information on how a car allowance will impact you financially.
