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Company car plan; Trust tangles; Loan relationship; Chimney problem
Company car plan
Would there be a tax advantage in a small company buying a company car?
My clients are a husband and wife who have each traded through a limited company. In case it is relevant some of the income of the wife’s company is derived from work carried out for the husband’s company. The couple are winding down their businesses but the husband’s company continues to trade and the wife’s company still performs some work.
The wife needs a new car and I wonder whether it would be advantageous to buy this through the company? It seems to me that we could make sure that the wife’s dividend income could be adjusted as and when pension income starts to be received so that total income including car benefit remains below the personal allowance. The plan was that the car costs could be...
