I’m seeking some guidance to ensure that what I’ve read elsewhere is correct.
I have a LTD company (not VAT registered). I’m looking to lease a fully electric car with a range of over 150 miles. I have read that I can lease this through my LTD company, and claim the lease payments as a business expense thus offsetting my corporation tax burden.
I am then liable for a monthly 2% BIK on my P11D based on the value of the car. Does this decrease when the car deprecates?
Is there anything I’ve missed, any other tax implications that I’ve not thought of?