Buying a Company Car as a Contractor
Posted on 30th July 2018 at 20:41
A great majority of contractors in the UK are using their own vehicles to commute to their customers’’ offices. If you are currently doing so, you are able to claim the HMRC’s Mileage Approved Rates (MAPs) to cover the costs of your travels. Contractors can also benefit from purchasing a company vehicle under their company name.
There are certain tax laws that we will discuss in this blog in order to find out which option is going to be most beneficial for you and your company.