Car dealers

Auditing and advising car dealers

The car dealership industry is characterized by a development where customers to a greater extent want a total monthly payment for leasing or repayment of the car, which can include, among other things, loss of value on the car, financing, service and insurance. This means that a division of the various revenue components must subsequently be made, as there may be a difference in the statement for VAT and payroll tax on the individual components and when they can be recognized as income in the company's accounts. 

As an auto dealer of new or used cars, there are many challenges that need to be addressed, including: 

  • Deduction for energy taxes on consumption in car dealerships. 
  • Use of employee benefits for employee retention, including those that are tax-free and taxable for the employees. 
  • Optimization of the financing of the company, including own financing, credit institutions, suppliers, employee obligations and public taxes.
  • Ownership structure and risk grazing. 

Accountant with solid experience and knowledge of
car dealers

In connection with auditing an auto dealer, we can offer our assistance and advice in a wide range of areas, including:

  • Tax advice and calculation of taxable income
  • Preparation of operating, status and liquidity budgets
  • Investment and financing advice
  • Advice in improving internal controls and business procedures in the company
  • Advice on ongoing financial management and reporting, as well as better use of resources
  • Calculation of the basis for settling VAT on used cars 
  • The company's reporting obligations to SKAT for employee benefits 
  • Calculation of payroll tax on financing commissions 
  • Tax depreciation on inventories that have been in stock for more than 1 year 
  • Calculation of tax base for the owners' use of the company's cars for private purposes