I8 as a company car

[mark2705]

Does anyone here run an I8 as a company car that could share their experience ? I'm a company director of my own limited company and I'm considering taking the plunge.

From what I've seen the BIK car tax would be 7% this year, 9% next year and then 13% in 2018/19. However, I assume if I buy new, the whole purchase can be written down in one year against the company profit. If I buy a used one, I believe that only 18% of the cost each year can be written down ? Used prices seem to have fallen to £65k- £75k mark so I'm trying to get my head around the best solution (ie new or used).

If anyone can provide some advice, I'd be grateful !!

Thanks

[johnnyreggae]

mark2705 said:

From what I've seen the BIK car tax would be 7% this year, 9% next year and then 13% in 2018/19. However, I assume if I buy new, the whole purchase can be written down in one year against the company profit.

True - current deal appears to be discount plus 0 % finance so you might as well buy new

There are quite a few similar threads over the past year or two which cover similar ground and might offer additional help (some in this section some in Supercar some even in Other Marques)

Very cool piece of kit which can now even be controlled from an Amazon Echo I believe

Edited by johnnyreggae on Monday 12th December 09:10

[foxsasha]

You can write the whole purchase price off against tax now but you'll have to pay the tax on the sale price when you move the car on. I looked at and test drove an I8, Tesla P90D and Panamera Hybrid and went for a six month old Panamera in the end as it was significantly cheaper than new and the 18% depreciation was close enough to actual as to make the 100% saving on new benefit irrelevant for me. Tesla want silly money for used cars. The I8 was great but just too small for us. I also couldn't get my head round trying to park it in a normal car park after we parked in in centre of a spot and couldn't get out as we couldn't open the doors properly.

Edit to add that 0% would be a majour draw, that wasn't on the table when we were looking. Wasn't there talk of a new version coming soon?

Edited by foxsasha on Monday 12th December 09:15