News.Life

5 Clever Moves to Slash Your Tax Bill Before Saturday

Unknown money, personal finance, personal finance saving spending, personal finance taxes, saving money

<img data-document-id="cms/api/amp/image/AA1C9yYD" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1C9yYD.jpg"/>

 With the tax year coming to an end soon, this presents a crucial period to potentially reduce your payment.


 In numerous instances, if it remains unused,
 you'll forfeit this year's allowances,
 So it’s worthwhile going through the tax-saving checklist to see if there are any smart methods you can use to reduce your taxes beforehand.
 The deadline is by midnight on 5 April.


 Below, experts reveal how
 you might be able to reduce your tax liability
 –and the most effective approach to planning for the coming year.

<ul class="wp-block-list">
 <li>
 
 Maximise your free money
 
 </li>
</ul>

 There are numerous methods to obtain free money from the government, including tax incentives, benefit programs, or special account offers.


 Laura Suter, who leads personal finance at AJ Bell, stated: "Pension schemes present a significant opportunity; for instance, basic-rate taxpayers get 20 percent tax relief, whereas those paying higher or additional rates can claim back an extra 20 or 25 percent via self-assessment."


 This implies that for someone paying the higher rate of tax, each £1 contributed to their pension effectively costs them 60p.

<ul class="wp-block-list">
 <li>
 
 Use your ISA allowances
 
 </li>
</ul>

 Furthermore, individuals can gain advantages from Individual Savings Accounts (ISAs). At present, the Lifetime ISA may be utilized either to purchase your first residence or to save for retirement. You have the option to deposit up to £4,000 annually, with the government adding a 25% bonus to your savings, capped at an annual limit of £1,000.


 Nevertheless, withdrawing funds before reaching the age of 60 incurs a 25 per cent penalty, unless it's for purchasing your first home. Thus, careful planning is crucial when considering this option.


 On top of that, a standard ISA will give you a tax break on your investment growth and interest earned, as well as any withdrawals being tax-free. Everyone can pay in up to £20,000 a year into the accounts, but use it or lose it, as once the new tax year hits that allowance is reset.


 Read Next:
 How your pension pot could be used to help you build a house deposit

<ul class="wp-block-list">
 <li>
 
 Beat the capital gains tax cut
 
 </li>
</ul>

 Capital gains tax (CGT) allowances have been cut in recent years, dropping from £12,300 in April 2023 to £3,000 now.


 This makes it more important to consider how you realise gains to avoid triggering an unnecessary tax bill.


 Ms Suter said: “Selling investments up to the current CGT allowance before the tax year end could help reduce future tax bills for those holding assets outside an ISA or pension.


 “Investors can also use a strategy known as ‘Bed and ISA’ to sell investments, which means transferring the proceeds into an ISA and repurchasing them, meaning that future gains are protected from tax.”

<ul class="wp-block-list">
 <li>
 
 Avoiding high tax on your savings
 
 </li>
</ul>

 There are times in life when you have more savings than others – like when you’re retired, if you’ve inherited money or when you are saving up for something big – like a house move. If you’re not used to paying tax on your savings, you might overlook it.


 Basic rate taxpayers can make £1,000 a year in interest before paying tax, and higher rate taxpayers can make £500 a year – and after that, there could be a tax bill to worry about.


 Sarah Coles, head of personal finance at Hargreaves Lansdown, said: “If you’re a basic rate taxpayer with £20,600 or more in a savings account paying 4.75 per cent, you’ll bust your allowance and face a tax bill.


 “If you move £20,000 into a cash ISA this tax year, you can move the rest after midnight on 5 April and protect it all from the taxman.”

<ul class="wp-block-list">
 <li>
 
 Make gifts
 
 </li>
</ul>

 If you’re concerned about inheritance tax (IHT), you have your IHT gift allowances to use any time during the year. However, other rules are worth exploiting as early as possible.


 Ms Coles said: “If you want to give larger gifts, you expect to drop out of your estate after seven years, so starting now will mean you can get the clock ticking now.”


 This is significant because no tax is owed on presents you bestow if you survive for seven years following the gifting — with the exception being when the gift is within a trust arrangement.


 Ms Coles remarked: "Should you decide to present gifts to minors under 18 years old, remember that these children will possess their complete junior ISA yearly allowance from the beginning of the next fiscal year—thus, although you may bestow the gift now, it remains inaccessible until they reach an age where they can manage adult financial decisions."


 Parents and guardians have the option to save or invest up to £9,000 each year in a Junior ISA for a child who is younger than 18 years old.


 Should you wish to donate periodic gifts using only additional earnings, starting early will allow you to contribute a larger sum overall.

5 Clever Moves to Slash Your Tax Bill Before Saturday

Unknown money, personal finance, personal finance saving spending, personal finance taxes, saving money

With the tax year coming to an end soon, this presents a crucial period to potentially reduce your payment. In numerous instances, if it remains unused, you'll forfeit this year's allowances, So …

5 Tax Deductions You Can Claim Without Itemizing

Unknown expenses, income taxes, personal finance taxes, saving money, tax cuts

<img data-document-id="cms/api/amp/image/AA1ATJ8y" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1ATJ8y.jpg"/>

 Filing taxes can be quite challenging, and the phrase "tax deduction" often evokes images of stacks of receipts and complex computations merely for saving a small amount of money. However, here’s some positive information: you do not have to go through the process of itemizing deductions to benefit from significant tax savings and decrease your taxable income.


 Each year when handling taxes, you must decide whether to opt for the standard deduction or not.
 itemizing your deductions
 . Many of us overlook the
 standard deduction
 since it’s more convenient—and for many individuals, it currently offers a superior option.


 However, many people aren't aware that even if you don't itemize deductions, the IRS still allows you to reduce your tax liability with certain credits or adjustments.
 taxable income
 With specific "above-the-line" deductions. These act as guaranteed victories if you meet the qualifications.


 Below are five tax deductions you can still claim even if you opt for the standard deduction as do many U.S. taxpayers.

<h2>
 5 Tax Breaks Available Without Itemizing Deductions
</h2>

 These deductions, listed on Schedule 1 of IRS Form 1040, decrease your
 adjusted gross income
 , known as AGI, could result in a reduced tax liability for you.

<div class="my-8">
 <div class="SupplementaryLink">
 Learn more:
 Seeking additional tax savings? Consider these common tax credits that you shouldn't miss out on.
 </div>
</div>
<h3 id="traditional-ira">
 1. Traditional IRA contributions
</h3>

 Setting aside funds for your retirement is a wise decision that pays off both later and sooner. The growth of your IRA contributions isn't taxed until withdrawal, allowing you to postpone tax payments. Additionally, putting money into a traditional IRA might make your contribution deductible this year (in contrast, contributions to a Roth IRA use post-tax dollars, so they aren’t eligible for deduction).


 Anyone who invests funds into a
 traditional IRA
 It might be eligible for this above-the-line deduction. However, the sole limitation on claiming IRA contribution deductions happens when either you or your spouse has a retirement plan through your workplace, like a 401(k). Under those circumstances, certain income thresholds could restrict your capability to deduct these IRA contributions.

<div class="editorial-insight-box">
 
 
 Tax tip
 
 
 
 You have up to the tax filing deadline on April 15, 2025, to make contributions to a traditional IRA for the year 2024. This can be one of the limited methods available to decrease your tax liability once the year has ended.
 
</div>

 To express it differently, if you
 
 don’t
 
 If you have a retirement plan through your employer (and your spouse does not), there are no income restrictions for deducting your IRA contributions.


 In 2024 and 2025, you're permitted to contribute up to $7,000 annually ($8,000 if you're aged 50 or above). If your earnings fall under the phaseout threshold, you will likely receive a tax deduction equivalent to the total contribution amount.


 The following are the income caps for claiming deductions on contributions to a traditional IRA when you (or your spouse) participate in an employer-sponsored retirement plan, applicable for the years 2024 and 2025. (Refer to the IRS guidelines for computing these amounts.)
 adjusted gross income (AGI) modified for traditional IRAs (MAGI)
 .)

<h4>
 Income limits for deducting contributions to a Traditional IRA when you're also covered by a workplace retirement plan.
</h4>
<table class="Table Table--text Table--stripedOdd Table--spacing0 align-middle">
 <tr>
 <th>
 Filing status
 </th>
 <th>
 Adjusted gross income for 2024 taxes (modified version)
 </th>
 <th class="has-text-align-left">
 Adjusted gross income for 2025 after modifications
 </th>
 <th class="has-text-align-left">
 Deduction amount
 </th>
 </tr>
 <tr>
 <td>
 Unmarried, as the head of a household, or married but filing separately (did not reside with your spouse throughout the year)
 </td>
 <td>
 Up to $77,000
 </td>
 <td class="has-text-align-left">
 Up to $79,000
 </td>
 <td class="has-text-align-left">
 Full deduction
 </td>
 </tr>
 <tr>
 <td>
 $77,000 to $87,000
 </td>
 <td class="has-text-align-left">
 $79,000 to $89,000
 </td>
 <td class="has-text-align-left">
 Partial deduction
 </td>
 </tr>
 <tr>
 <td>
 $87,000+
 </td>
 <td class="has-text-align-left">
 $89,000+
 </td>
 <td class="has-text-align-left">
 No deduction
 </td>
 </tr>
 <tr>
 <td>
 Filing as married couples where both are covered under a workplace retirement plan
 </td>
 <td>
 Up to $123,000
 </td>
 <td class="has-text-align-left">
 Up to $126,000
 </td>
 <td class="has-text-align-left">
 Full deduction
 </td>
 </tr>
 <tr>
 <td>
 $123,000 to $143,000
 </td>
 <td class="has-text-align-left">
 $126,000 to $146,000
 </td>
 <td class="has-text-align-left">
 Partial deduction
 </td>
 </tr>
 <tr>
 <td>
 $143,000+
 </td>
 <td class="has-text-align-left">
 $146,000+
 </td>
 <td class="has-text-align-left">
 No deduction
 </td>
 </tr>
 <tr>
 <td>
 Filing as married couples where both partners are part of an employment benefit plan
 </td>
 <td>
 Up to $230,000
 </td>
 <td class="has-text-align-left">
 Up to $236,000
 </td>
 <td class="has-text-align-left">
 Full deduction
 </td>
 </tr>
 <tr>
 <td>
 $230,000 to $240,000
 </td>
 <td class="has-text-align-left">
 $236,000 to $246,000
 </td>
 <td class="has-text-align-left">
 Partial deduction
 </td>
 </tr>
 <tr>
 <td>
 $240,000+
 </td>
 <td class="has-text-align-left">
 $246,000+
 </td>
 <td class="has-text-align-left">
 No deduction
 </td>
 </tr>
 <tr>
 <td>
 Filing as married but living apart from one’s spouse for some part of the year
 </td>
 <td>
 Up to $10,000
 </td>
 <td class="has-text-align-left">
 Up to $10,000
 </td>
 <td class="has-text-align-left">
 Partial deduction
 </td>
 </tr>
 <tr>
 <td>
 $10,000+
 </td>
 <td class="has-text-align-left">
 $10,000+
 </td>
 <td class="has-text-align-left">
 No deduction
 </td>
 </tr>
 <tr>
 <td>
 Source: IRS
 </td>
 </tr>
</table>

 Keep in mind that, should you (along with your spouse if married) be
 
 not
 
 If you're covered by an employer retirement plan, your contributions remain fully tax-deductible irrespective of how much you earn.

<div class="my-8">
 <div class="SupplementaryLink">
 Learn more:
 In both 2024 and 2025, we can review the respective tax brackets along with the prevailing federal income tax rates.
 </div>
</div>
<h3>
 2. HSA contributions
</h3>

 If you have a high-deductible health plan (HDHP), contributing to a health savings account can help you save both immediately and down the road. Contributions to an HSA are tax-deducatable, your funds grow without being taxed until withdrawn, and when used for eligible medical costs, these withdrawals remain untaxed.


 The allowable deductions for Health Savings Account (HSA) contributions in 2024 (which would apply to tax filings made in 2025) are as follows:

<ul>
 <li>
 Up to $4,150 for individual recipients
 </li>
 <li>
 As much as $8,300 for family units
 </li>
 <li>
 Individuals aged 55 and above can contribute an additional $1,000.
 </li>
</ul>
<div class="editorial-insight-box">
 
 
 Tax tip
 
 
 
 You have until the April 15, 2025, tax filing deadline to make contributions to your Health Savings Account (HSA) for the 2024 tax year. This is among the rare methods available to decrease your taxes even after the year has concluded.
 
</div>

 The allowable deductions for Health Savings Account (HSA) contributions in 2025 (applicable to tax filings made in 2026) are as follows:

<ul>
 <li>
 Up to $4,300 for individual recipients
 </li>
 <li>
 Up to $8,550 for family units
 </li>
 <li>
 Individuals aged 55 and above can contribute an additional $1,000.
 </li>
</ul>

 In order to make HSA contributions, you need to be part of a qualifying HDHP and should not have coverage from another group plan.

<div class="editorial-insight-box">
 
 
 Tax tip
 
 
 
 Should your employer make contributions to your Health Savings Account, those funds will count towards your yearly contribution cap.
 
</div>
<h3 id="student-loan-interest">
 3. Tax deduction for student loan interest
</h3>

 While student loan repayments might hurt, there's a bright side: you can claim a deduction for up to $2,500 in interest paid annually on both federal and private student loans.


 In order to be eligible for this complete deduction, you have to:

<ul>
 <li>
 have covered interest payments on a student loan for you, your spouse, or a dependant.
 </li>
 <li>
 have removed the loan to cover eligible educational costs.
 </li>
 <li>
 have a modified adjusted gross income (or MAGI) below the limits (see below).
 </li>
 <li>
 Should not be considered as another person's dependent.
 </li>
</ul>

 Below are the income thresholds for claiming the student loan interest deduction when filing your 2024 taxes in 2025 (refer to the IRS guidelines for more details).
 determining Modified Adjusted Gross Income for the student loan interest deduction
 ):

<h4>
 Income thresholds for deducting student loan interest in 2024
</h4>
<table class="Table Table--stripedOdd Table--spacing1 align-middle">
 <tr>
 <th>
 Filing status
 </th>
 <th>
 Adjusted gross income for 2024 after modifications
 </th>
 <th>
 Deduction amount
 </th>
 </tr>
 <tr>
 <td>
 
 Unmarried, individual filer, head of household, or eligible widow(er)
 
 </td>
 <td>
 
 $0 to $80,000
 
 </td>
 <td>
 
 Full deduction
 
 </td>
 </tr>
 <tr>
 <td>
 
 $80,000 to $95,000
 
 </td>
 <td>
 
 Partial deduction
 
 </td>
 </tr>
 <tr>
 <td>
 
 $95,000+
 
 </td>
 <td>
 
 No deduction
 
 </td>
 </tr>
 <tr>
 <td>
 
 Married filing jointly
 
 </td>
 <td>
 
 $0 to $165,000
 
 </td>
 <td>
 
 Full deduction
 
 </td>
 </tr>
 <tr>
 <td>
 
 $165,000 to $195,000
 
 </td>
 <td>
 
 Partial deduction
 
 </td>
 </tr>
 <tr>
 <td>
 
 $195,000 or more
 
 </td>
 <td>
 
 No deduction
 
 </td>
 </tr>
 <tr>
 <td>
 
 Married filing separately
 
 </td>
 <td>
 
 N/A
 
 </td>
 <td>
 
 No deduction
 
 </td>
 </tr>
 <tr>
 <td>
 Source:
 IRS
 .
 </td>
 </tr>
</table>
<h3 id="educator-expense">
 4. Educator expense deduction
</h3>

 It's quite typical for teachers to spend their own funds on classroom materials. Luckily, qualifying educators may claim a deduction for at least part of these expenses.


 Teachers, instructors, guidance counselors, and school principals who work at least 900 hours annually are eligible for this tax reduction, which can be as high as $300 per person (or $600 for married couples where both partners are involved in education).


 This
 educator expense deduction
 covers job-associated costs like educational tech, textbooks, supplies, training programs, and other essential items.

<div class="editorial-insight-box">
 
 
 Need an advisor?
 
 
 
 Looking for professional advice on handling your finances?
 
 
 ’s AdvisorMatch
 I can link you with a Certified Financial Planner™ who will assist you in reaching your financial objectives.
 
</div>
<h3 id="self-employment">
 5. Self-employment deductions
</h3>

 What about freelancers, gig workers, and entrepreneurs? If you're self-employed, there are multiple
 business tax deductions
 To assist in reducing your taxable income on Schedule C.


 However, when you're completing your tax return and you input your net business earnings from Schedule C into it,
 Form 1040
 , you might also be eligible for certain above-the-line deductions (which should be entered on Form 1040’s Schedule 1).


 The three key points are:

<ul>
 <li>
 The self-employment tax deduction works as follows: If you're self-employed, you must cover both the employer and employee shares of Social Security and Medicare taxes. However, half of this tax amount can be deducted.
 </li>
 <li>
 Contributions to your SEP IRA, SIMPLE IRA, or solo 401(k) plans typically offer tax deductions.
 </li>
 <li>
 If you pay for health insurance but do not qualify for coverage through your employer, you have the option to deduct 100% of the premium costs for yourself, your spouse, or your dependents.
 </li>
</ul>
<h2 id="bottom-line">
 Bottom line
</h2>

 Paying taxes isn't enjoyable, yet reducing expenses can be rewarding. You don't require complex itemized deductions to lower your tax liability.Above-the-line deductions are accessible regardless of whether you choose the standard deduction or opt for itemizing your deductions, simplifying the process of retaining more of your well-deserved income.


 These deductions can accumulate rapidly, be it for repaying student loans, saving for retirement, or handling healthcare costs. Spending a short time verifying your eligibility might result in savings of hundreds or even thousands of dollars in taxes.

5 Tax Deductions You Can Claim Without Itemizing

Unknown expenses, income taxes, personal finance taxes, saving money, tax cuts

Filing taxes can be quite challenging, and the phrase "tax deduction" often evokes images of stacks of receipts and complex computations merely for saving a small amount of money. However, here’s so…

How to Slash Your Company Car Tax Bill in the UK

Unknown business, cars, money, personal finance taxes, taxes

<div>
 
 To misquote an age-old adage, two things are certain in life: death and
 company car tax
 . You cannot evade the initial cost, and no matter how much effort you put into avoiding the secondary one, you will ultimately have to pay something.
 
 
 Certainly, this presupposes that you have access to a company vehicle; however, considering approximately 700,000 individuals currently benefit from such an arrangement, the likelihood seems quite substantial.
 
 
 For the tax authorities, a company car is like a golden goose: in the fiscal year 2021/22, the overall taxable amount from company car benefits reached £3.95 billion. Nevertheless, as another adage goes, the times they are a-changing.
 
 
 Two words:
 electric cars
 These attract significantly lower levels of taxation compared to petrol and diesel vehicles, making them extremely popular among company car drivers.
 
 
 For instance, during the tax year 2021/22, the count of beneficiaries was
 company cars
 With CO2 emissions of 75g/km or lower, there were 243,000 vehicles, up from 137,000 in the prior fiscal year, and fully electric cars made up 17% of vehicle beneficiaries. This data is from three years back, after which the share of such vehicles has continued to change.
 company EVs
 has surged significantly due to their rising popularity and schemes like salary sacrifice.
 
 
 To put it briefly, the tax authorities are facing financial losses, yet they aren’t ready to surrender just yet. Therefore, here’s how you can exit this situation still fully dressed metaphorically speaking.
 
 <h2>
 What does "company car" mean?
 </h2>
 
 This is a vehicle provided by your employer alongside your regular pay, allowing you to utilize it both for personal trips and work-related travel. Personal use encompasses daily commutes.
 
 <h2>
 What does company car tax entail?
 </h2>
 
 It’s a levy on a perk, specifically a company car. While you might consider the vehicle distinct from your wages, from HMRC's perspective it's just another type of compensation—hence subject to taxation. This is precisely why they refer to it as Benefit-In-Kind tax.
 
 <h2>
 What is the method for calculating company car tax?
 </h2>
 
 The tax calculation hinges on the sum of the car’s listed price inclusive of VAT along with additional features (referred collectively as the P11d value). This total figure is then adjusted using the vehicle's officially recorded CO2 emission levels stated as a percentage—termed the BIK rate. By multiplying this outcome by the individual's income tax bracket, one arrives at the taxable amount that the employee needs to cover for their company car usage.
 
 
 The BIK rates vary between a maximum of 37% for cars releasing over 170g/km CO2 and a minimum of 2% for zero-emission vehicles. In the case of hybrid models, their electric-only driving range influences these percentages as well. Additionally, an extra charge of 4% is applied to diesel-powered vehicles failing to meet the stringent RDE2 emission criteria.
 
 
 
 Example:
 
 
 
 The P11D valuation for the vehicle stands at £20,000. The CO2 emission level is recorded as 95 grams per kilometre. It runs on petrol fuel. The Benefit-in-Kind (BIK) percentage assigned to this car is 24%. If we consider your individual income tax bracket which is set at 20%, then the calculated BIK amount based on the P11D price would be £4,800. Consequently, the taxable sum you must pay annually equates to £960, translating into a monthly figure of £80.
 
 <h2>
 What benefits does having a company car offer?
 </h2>
 
 Despite covering the taxes, an employee provided with a company car still ends up financially ahead compared to someone purchasing their vehicle using after-tax earnings. For instance, they would struggle to find a new car costing £80 per month through personal means alone.
 
 <h2>
 What steps can I take to lower my company car tax liability?
 </h2>
 
 <img data-document-id="cms/api/amp/image/BB1nj7pk" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/BB1nj7pk.jpg"/>
 
 
 
 Choose an EV
 
 
 
 HMRC has spent the past 20 years using company car tax to incentivise low-CO2 vehicles, and there's none lower than an electric car.
 
 
 Until April 2025 electric cars (rated at 0g/km CO2) are taxed based on 2% of their P11d price, whereas even the most efficient petrol and diesel models start at 25%. That’s usually enough to reduce your tax bill by 90%.
 
 
 For context, a 20% taxpayer in a £30,000 Vauxhall Astra GS Line diesel would pay around £158 in benefit-in-kind per month, whereas their boss on a 40% income tax band would pay just £83 for a £120,000 BMW iX M60.
 
 
 It’s hardly surprising that battery-electric has become the most popular powertrain type for new fleet lease cars, according to the British Vehicle Rental and Leasing Association (BVRLA).
 
 
 
 Or choose a hybrid
 
 
 
 If you are not ready to ditch combustion engines completely, the BIK rates also heavily incentivise plug-in hybrids with the longest electric range – and this can offset their higher list price.
 
 
 For example, the
 Toyota RAV4
 Plug-in has an electric-only range of 46 miles, so it falls into the 8% BIK band, whereas the
 Ford Kuga
 2.5 PHEV ST-Line X Edition travels up to 35 miles on a full charge and is taxed at 12% of the list price. Despite the Toyota’s £4500 list price disadvantage, drivers will pay around 25% less in tax than they would on the Ford.
 
 
 
 Be selective with options
 
 
 
 In 2017, Europe’s automotive industry switched to a new fuel efficiency test, catchily known as the worldwide harmonised light vehicles test procedure, or WLTP.
 
 
 Alongside tougher test conditions, it produces more granular data, including recognising differences between trim levels and the effects of optional equipment on efficiency.
 
 
 Before you get carried away adding options, it’s worth double-checking that the larger wheels or panoramic sunroof you’ve just selected don’t push the car into a higher tax band. They can turn into expensive luxuries over a three-year lifespan.
 
 
 
 Look out for fleet trims
 
 
 
 Fleets and leasing companies have enough buying power to negotiate discounts on new cars that private buyers wouldn’t be able to access. Unfortunately, this isn’t reflected in the list price and those discounts won’t result in lower benefit-in-kind for drivers.
 
 
 Instead, to help pass those savings on, some manufacturers offer fleet-focused trim levels that add essential kit but in effect have the discount built into the list price. The result is lower benefit-in-kind payments than for an equivalent retail-focused version.
 
 
 
 Select a commercially viable vehicle with tax benefits
 
 
 
 Commercial vehicles weighing less than 3500kg and with a payload of 1000kg are a bit of a bargain in benefit-in-kind terms. Instead of being taxed based on a CO2-weighted percentage of their list price, they attract a standard tax charge. Until the end of the 2025/26 tax year it is £3960, which means they can be a tax-efficient alternative to a large car. It's even better news for electric commercial vehicles, whose standard tax charge is set at £0.
 
 
 This loophole for light commercial vehicles with a 1000kg payload has created a market for double-cab pickups among open-minded company car drivers.
 
 
 These provide dual rows of seating, top-tier trims, and greater towing capability than most households could possibly require. Should you be able to overlook their heavy fuel consumption and somewhat bumpy ride quality, these vehicles serve as a far less expensive corporate car option compared to an equivalent-sized sports utility vehicle.
 
 
 Nevertheless, the additional row of seating might reduce the cargo space and payload capacity for certain double-cab variants; thus, ensure that your chosen model meets this criterion: these vehicles along with similar ones having a maximum carrying weight under 1000 kg are classified as automobiles and therefore subject to taxation based on their CO2 emissions.
 
</div>

How to Slash Your Company Car Tax Bill in the UK

Unknown business, cars, money, personal finance taxes, taxes

To misquote an age-old adage, two things are certain in life: death and company car tax . You cannot evade the initial cost, and no matter how much effort you put into avoiding the secondary …