Until recently, company cars have been unpopular because of the high benefit in kind (BIK) charges associated with them, and it has been simpler and more tax efficient for employees and directors to claim business mileage. However, the Government is committed to ending the sale of new petrol and diesel cars in the UK by 2030, which has led to the introduction of tax incentives to encourage the use of environmentally friendly cars.
For sole directors getting paid through their limited company’s payroll, the optimum director’s salary is £8,840 per annum (or £736.66 a month). To discuss the best option for you, get in contact.Contact us here
"As today is the last day of our financial year and I have relied on the goodwill of Customers and suppliers so heavily, I thought I would let you know that I am especially grateful to Blackman Terry for the support over the last year and the monthly Payroll, which has never missed a beat. The team have been essential in organising us every month and has taken away a layer of hassle and stress that myself and colleagues have appreciated hugely."