New Job (which company car?)

[219]

Another point that I did.. I took a low miler vehicle and stuck a private plate on it so nobody knew.. still had all the comforts etc felt good too..

You can - and nobody tells you this, go for a classic car like a UR Quattro or an E Type and claim that back, but I haven't see that done.. be aware though the you don't have to use all the allowance and pocket the difference..

Remember this though:

The allowance is for the purchase of the car and nothing more...

The Pence per mile is to service the vehicle/tyres /insurance etc/ along with running of i.e filling up.. hence a larger amount by return against your fuel receipts.

Now, say they only pay you 25p per mile and you keep all your receipts for the year, you can claim off the TAX People the difference on the first 10k ( i.e 45- minus 25p = 20p x 10k giving you a return of £2000!) not bad huh?

Its up to you though I've used my own car for years but I'm now considering going back to a company car seeing as I had bad failures of other marques.. bills equating to £500+ on 3 or 4 occasions ..but its just your luck I guess...

Further to the above , my pal at work with the Tesla ( it was a used one costing about £30K ) is paying off his interest free loan , and doing business miles which cost him virtually zero in fuel since he charges up for free in the work car park and elsewhere , AND he still gets the 45p/mile HMRC rate same as everyone else .

Cake and eating it ...

 

[such01]

Further to the above , my pal at work with the Tesla ( it was a used one costing about £30K ) is paying off his interest free loan , and doing business miles which cost him virtually zero in fuel since he charges up for free in the work car park and elsewhere , AND he still gets the 45p/mile HMRC rate same as everyone else .

Cake and eating it ...

i did ponder over a tesla, but the initial cost and range put me off.
Also, I park mainly in hospital car parks daily and the only charging points in my work area are main shopping centres.
But if it works for you - definitely cake and eat it! I wonder how long it will be before the tax man decides to get his claws in?

 

[Petrol Pete]

What sort of work , do you have to carry equipment , or just yourself
?

While lease costs may be similar , different classes of vehicle , such as electric ( Tesla ? ) or pick up trucks ( Mitsubishi L200 ) attract vastly lower BIK tax ( can be £50 as opposed to £250 monthly BIK tax ) .

The Tesla can cover 300miles per charge , there are fast chargers just about everywhere , and £5 of electricity charging at home takes you that 300 miles - how much fossil fuel to cover that distance .

Here in Scotland charging is free everywhere else , so with care you can just about run the car for no fuel cost - many employers now have free charge points at work too .

A colleague just got a Tesla and raves about the above , together with interest free Scottish government loan to buy the vehicle and grant to have the charge point installed at home .

7.5% BIK tax on electric vehicles , free VED .

What's not to like ?

Make the most of all that tax free stuff. If Stugeon gets her way its all going to disappear.

 

[219]

Make the most of all that tax free stuff. If Stugeon gets her way its all going to disappear.

I suspect it'll be left alone until significantly greater uptake of electric cars .

At present , the PR gains are worth much more than the small gains in tax .