what is a pool car

A pool car is a vehicle that is shared by employees of a business and is regarded as an essential business tool. It is mostly kept on business premises and is available for use by more than one driver. A pool car can be a car or van and is an asset of the companys fleet. It is different from a company car, which is a taxable company benefit given to individual employees for personal and business reasons. To be treated as a pool car, the vehicle must be available by reason of employment to more than one driver, actually used by more than one driver, and must not normally be kept overnight at one employees home. Pool cars are subject to less taxation than company cars. It is important not to confuse a pool car with a company car, as incorrectly classifying vehicles is subject to severe penalties.