Company car is king as fleets focus on risk management
Speaking at last week’s ‘A Day at the Taxes’ specialist seminar held by ACFO, Wayne Millward, consultant at event sponsor Arval, told delegates that the company car “seems to be the way forward at the moment” as part of a presentation highlighting issues around the complex cash or car argument.
“Car versus cash, there is no correct answer,” said Millward, a former fleet manager. “There is a place for both in most companies and that will be the way for many years to come.”
However, he said that while some years ago cash was perceived as king by employers “because it was easy”, the advent of corporate manslaughter legislation and an ever-growing focus by employers on occupational road risk management had influenced corporate views.
Millward added: “Businesses realised their liabilities were the same whether employees drive a company car or take cash and drive their own vehicle on business trips. As a result, the car seems to be the way forward at the moment.”