Limited Company Salary Sacrifice

[Bootneckshuffl]

Hi all

Apologies in advance if this has been covered and answered but nothing cropped up in related discussions.

Situation is this, I am a director of my Ltd company, as is my wife. Can I set up salary sacrifice through my own Ltd? Is it worth it? Is it any better than say just a normal business car lease or PCP?

Thanks.

 

[WannabeOwner]

I am a director of my Ltd company, as is my wife

Recommend you speak to your accountant, but my guess is you might be better off with a company car, rather than salary sacrifice. I have two company cars on "my company" (its not just a "me and the missus" outfit ). 100% first year allowance, and BiK is tiny. We have free charging at work (all EV owning employees) and company pays running cost of car (tyres / insurance - have you got a teenage kid that wants to learn to drive?), and Supercharger usage. We don't claim home electricity (to fiddle and its a couple of £hundred a year at most.

I asked my accountant (visited today, per chance) about pros / cons stuffing replacing the existing £150K of vehicles on the company. His crystal ball glaze was that chancellor will need the money, so BiK tax will be back in a couple of years. So we've had the best out of the incentives.