Tax savings on eco cars

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COMPANY car owners or directors are being urged to look at using low-emission vehicles to cut costs.

Hera Basra, director of Basra & Basra chartered accountants, says few company car owners or directors realise that low CO2 emission vehicles can represent some considerable tax savings.

Benefits of owning a car with 110g/km or less emissions will result in a 100 per cent first-year write-off against corporation tax, and modest road tax.

Alison Ferris, fleet manager at The Peter Cooper Volkswagen Group in Portsmouth, said: ‘I would agree that a large percentage of companies are still unaware of the huge tax incentives.’