There are almost a million drivers on the UK’s roads who are behind the wheel of a company vehicle. A company car is a privilege and a great perk of employment. It is also an essential tool for those who need to spend time at the remote work site or meeting with customers, suppliers and business partners.
If you decide to buy a company car and use it for personal as well as business reasons, then you will be liable for a tax charge for the privilege. The amount of the benefit in kind depends on a number of factors.