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Personal contract hire allows the user to benefit from monthly rentals over a fixed period and annual mileage, with the opportunity at the end of the term to simply hand the car back and choose a replacement if required.
This option is ideal for the company car driver who is given a mileage allowance in lieu of a car, availing them to choose a vehicle of their individual choice and style, yet with minimum initial outlay to themselves.
As the vehicle is not owned by the company, this will enable the user to avoid benefit in kind taxation which is chargeable on all company vehicles.