How to Stay Safe from HMRC
Under these schemes it is your employee who enters into the contract for the provision of the company car instead of you the employer. Such schemes benefit from the fact that there is no company car or fuel tax charge for the employee, nor any corresponding Class 1A NIC charge for the employer.
Our consultants will maximise savings to both the employer and the employee by factoring in tax efficient payment options. These can include the employer lending the employee up to £10,000 as a loan to finance the car (where appropriate, this can be achieved on a tax & NIC free basis) and paying HMRC Approved Mileage Allowance Payment rates for any business travel.
We will also ensure that your scheme is designed to receive full HMRC clearance and will assist you in the development and delivery of your communications strategy.
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