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Are Environmentally Friendly Cars Tax Efficient?

There Are Some Really Good Tax Breaks On Cars.
Lets Look At Environmentally Friendly Ones.

What About Environmentally Friendly Cars?

We Are Accountants Dunfermline Business Love!

OnTax Accountants Dunfermline remember the moment in April 2009 that HMRC changed the way company cars were taxed and OnTax Accountants Dunfermline were not impressed! Instead of being taxed on the value of the car the taxman decided to tax cars based on their CO2 emissions. OnTax Accountants Dunfermline advise that ideally you want to buy a car below 160g/km emissions.

What these means is that after 5 years you will have received tax relief of around 61% of the cost in comparison to 34% for a car with a higher CO2 emission. We advise that from April 2012 this gap is about to widen even more. we also advise you that the new ultra low emission rate of 110g/km allows you to claim 100% of the vehicle cost against your tax. This can be quite a tax saving! And we would be happy to show you how to claim this!

Some Super Tax Efficient Cars!

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We would personally not be seen dead in a Smart car. No sir! But guess what cool cars fit into this super tax efficient category? Think Honda Civic (very nice!), Audi A3 (even better) or even my personal favourite the BMW 320d - and seriously fast and economical too!

The Taxman Actually Cares About The Environment!

How To Lower Your Benefit In Kind Tax!

Disclaimer: The advice contained herein from OnTax Accountants Dunfermline is subject to the tax rates and law applicable in the UK at the time of writing. No reliance should be placed on this article from OnTax Accountants Dunfermline, which has been written from an anecdotal perspective. Always obtain written advice for your specific situation from a properly qualified professional at OnTax Accountants Dunfermline.

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