Buying a Car Through a Limited Company

Goforma24 Oct, 2024Finance

Buying a car through a limited company can offer attractive benefits, especially for business owners looking to reduce tax liabilities and manage costs more effectively. From tax breaks to capital allowances, the advantages can be significant if you understand the rules and how they apply to your situation. However, this decision comes with both pros and cons, depending on the car you choose, how much you drive for work, and the company’s financial structure. In this guide, we’ll walk you through everything you need to know about buying a car through your limited company in the UK, including tax implications, vehicle choices, and the process involved.