As banks become positively Scrooge-like in their lending policies, companies are becoming increasingly conscious of better managing their working capital. Even so, fleet transport in one form or another may be critical to business. Here John Lewis runs through the forms of financing available and their tax implications.
Business motorists have had a hard time of it recently, hit by rising fuel prices, continuing congestion on the roads and retrospective tax increases. Despite this tough environment, the company car remains a vital business tool and is considered one of the top employee perks.
While a vehicle's use might be inevitable for a business, how you pay for it requires a lot more thought. When it comes to acquiring a company vehicle, there are two main options.
The first is to purchase it outright, using cash or a loan. The second is to use some form of funding. More...