Keeping track of your company car’s monthly gross addition is essential, as this figure could directly impact your company’s car tax and final costs. Your car’s monthly gross addition refers to the value of the car itself — not the expenses associated with owning it.
In simple terms, it’s how much you can sell your car for if you were to resell it after its lease period ends. If you don’t track your monthly gross addition properly, it could result in significant financial implications for your business. Read on to find out more…
What Is Your Company’s Car Tax?
Your company’s car tax is a monthly fee that your business pays for its vehicles. This fee is typically determined by the value of the vehicle and how much it was purchased for. Companies can also pay a higher gross addition amount on their car tax if they have not made the appropriate calculations to minimize their monthly gross addition.
To calculate your company’s car tax, you must take your annual gross addition and divide it by 12 months.
Why Is Tracking Your Monthly Gross Addition So Important?
It’s critical to track your monthly gross bijtelling auto van de zaak (company car addition)to ensure you know what your car is worth. If you don’t know your monthly gross addition, it can be difficult to calculate the true cost of owning a company car. If you don’t know what your car is worth, then it’s hard to estimate the end costs.
Tracking your monthly gross addition accurately ensures that you’ll have an accurate idea of what you’re getting into before leasing or purchasing a company car. Another way to think about it: if you knew exactly how much your car was worth when it was leased or purchased and how much it’s worth at the end, then leasing or purchasing a company will be a lot more straightforward for you.
Ultimately, tracking and calculating this figure should help make the decision easier for any business owner looking to purchase or lease a company car.
How To Track Your Company’s Car’s Monthly Gross Addition
There are two ways to track your company car’s monthly gross addition. First, you can estimate it. This is best for smaller companies with a fleet of only one or two cars. You can calculate the monthly gross addition by using the previous year’s depreciation and dividing it by 12.
If you own more than one company car, you can also use this technique to establish an average value for all your cars. The second way to track your company car’s monthly gross addition is to use an online valuation calculator. This method is more accurate and recommended for larger companies with multiple cars on their fleet.
Online valuation calculators provide a precise figure that takes into account mileage, age, makes and model of the car, any extras such as heated seats or alloy wheels, and any other features you may have added while leasing the car.
Monthly Expenses To Take Into Consideration When Tracking Agas
The monthly gross addition is just one of the expenses you will need to take into consideration when tracking your company car’s gross monthly addition. The following are other areas you should consider:
- License, inspection, and registration fees
- License plate renewal fees