Company car dilemma

D

DR-Z

Member
 Ashbourne (Derbyshire) and Aberdovey
New job, what car? Currently I take the car allowance, and run the 535D, but do relatively few company miles. New job will do maybe 15k company miles, plus 10k private miles, so do I take the £10k allowance or go for co. car instead? Big choice, including most BMWs up to 5 series (including Z4), mercs, etc., but the BIK is significant.

Any views? Would ideally like to run the 535 for another 100k miles, but policy is 120k miles and 5 years old max, which I will soon meet.
 
Take the allowance. I've just thought about re-entering our car scheme, but what I'd lose in net income (loss of post tax allowance plus BIK) it's not worth it for a car that will never be mine.
 
I've ran my own car for 15 years and have no intension of having a company car

the draw back is that the allowance never goes up, petrol/diesel does
 
given the choice, i would take the allowance everytime. unfortunately very few of my past jobs allowed me an allowance and i had to use their crappy company cars
 
£10k allowance - that's generous!

I took the car option, but only because I am doing crazy mileage at the mo'. For me 30k miles was tipping point for taking the car... but I got a relatively cheap company car that does nearly 60mpg and the all important emissions are relatively low.

It is sllloooooowwwww though.
 
I researched this ( a lot as I am a tight Yorkshireman)
£10k after 40% tax and 2% NI (I'm assuming you're a highe
r rate tax payer with that car allowance) equates to just under £500 pcm.

If you get 15 p per mile from your employer for fuel, then you can claim about £100pcm back from the tax man too.

£600pcm for a personal lease (if that's what you want to do) will get you in to an XF 2.2d (200) for three years and 25k miles per annum.

If you want to add what you would be paying in company car BIK, then you could get in to a new 535d/CLS.
 
Talksthetorque said:
If you get 15 p per mile from your employer for fuel, then you can claim about £100pcm back from the tax man too.
Click to expand...

How does that work? Is that for company miles and / or commuter miles?
 
danmiddle2 said:
Talksthetorque said:
If you get 15 p per mile from your employer for fuel, then you can claim about £100pcm back from the tax man too.
Click to expand...

How does that work? Is that for company miles and / or commuter miles?
Click to expand...

short answer http://www.hmrc.gov.uk.
Long answer I'll pm you.
 
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