What are the Best Company Cars for Your Business?
Looking to buy a company car for your business? This is a huge purchase and it is important that you take the time to find the right vehicle for your particular company. There are a handful of excellent company cars to consider available right now which could give a significant boost to your business.
UK Tax Rules
First, it is important to be aware of what the company car tax rules are in the UK right now as this will have a big impact on your decision. A company car is treated as a benefit-in-kind which means that you will need to pay tax either via PAYE or by declaring it on your tax return if self-employed. The amount that you pay will depend on the following factors:
- The vehicle's P11D value
- CO2 emissions
- Fuel type
- Income tax bracket
Toyota Corolla
The Toyota Corolla is an excellent company car because it is a hybrid (low CO2 emissions) but it is also very comfortable with a spacious interior, excellent handling and stability and stylish looks that are sure to impress.
BMW 5 Series Saloon
BMW is always a smart choice when buying a company car and certainly stylish enough to impress anyone that you drive past. This high-end, luxury vehicle features everything that you would expect with BMW which makes it well-suited for businesses purposes, plus you can opt for a plug-in hybrid which can make it cost-effective and environmentally-friendly.
Ford Focus Zetec
The Ford Focus is a UK favourite and a vehicle know for its reliability which makes it a smart purchase for a company car. The Zetec has a slightly classier look than the Focus along with a host of new technology, plus it can be cheap to buy and run with the 123bhp EcoBoost engine capable of 56.5mpg.
VW Golf hatchback
Another UK favourite, the Golf from VW is another excellent choice due to its build-quality, interior comfort and reliability. It can also be eco-friendly with the Golf GTD Blueline capable of up to 52.3mpg while emitting just 113g/km of CO2.
These are a few of the best company cars to consider, all of which would be a smart investment. It is also worth considering GAP insurance when buying a company car which will protect your investment and ensure that you are not left out of pocket in the event of a write off.
It is a big decision to make but you cannot go wrong with any of the above which are all excellent vehicles but can also help to lower your tax bill.