The Leaky Bucket
Most service businesses are leaking profit — through costs they've stopped questioning, margins they've never properly tested, clients they've quietly lost, and revenue they've never asked for.
The Leaky Bucket is the show where we open a real business file and find out exactly where the money is going.
Each episode, Ian Morgan — Group CEO of MBS Accountants — works live through the finances of a real service business scenario. One company. Four sessions.
Costs, margins, churn, average order value. Every leak identified. Running total revealed.
No theory. No frameworks. Just numbers — and what they tell you when someone actually looks.
If you're running a service business turning over £500k to £10m and your accountant has never shown you this, this show is for you.
The numbers always reveal the leak.
The Leaky Bucket
Should You Put a Company Car Through Your Own Company?
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In this episode, we explore the pros and cons of putting a company car through your business. We focus on two main types of vehicles: commercial vehicles and electric vehicles (EVs).
Key Points:
•Commercial Vehicles:
•Offer significant tax benefits, including full tax deductions and VAT recovery (if VAT-registered).
•Typically exempt from Benefit-in-Kind (BIK) tax if used exclusively for business.
•Electric Vehicles:
•Benefit from lower BIK tax rates due to their low emissions.
•Eligible for government grants and 100% first-year capital allowances.
•Lower running and maintenance costs compared to traditional fuel vehicles.
•Enhance your business’s green credentials.
Considerations:
•Personal use of company cars can lead to additional taxes (BIK).
•Weigh the cost vs. benefit of owning the car through your business versus personal purchase.
•Choose the right vehicle based on your business needs.
This episode helps business owners make informed decisions about whether putting a vehicle through the company is the right move, especially with the rise of commercial and electric vehicles.
We hope you enjoyed this episode
You can find out more about us using the links below
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Ian's LinkedIn Account
The Leaky Bucket Youtube Channel
MBS Accountants Website