Which company car ?

C

chester2000

Member
Myself and a few colleagues set up our own limited company earlier this year and it's going really well.

My role is sales and I'm travelling approx 30-40k a year. I'm currently doing it in my E89 35i but I'll racking up the miles. My question is this, can anyone suggest a car that is fun to drive that won't kill me on the tax !!

I love the look of the new Porsche Macan but £60k it too much.

Any suggestions ?

Thanks
 
What is your criteria?

Performance, tax bill, economy? How much space do you need? number of doors etc.
 
430d M Sport ? http://www.carbuyer.co.uk/reviews/bmw/4-series/coupe/30-430d-m-sport-auto_7207107/review
 
All good choices thanks !

My main criteria is something fun/quick to drive and something the taxman won't kill me on Tax !

The rules around company car tax baffle me slightly, especially as we intend to take the bulk of our income via dividends. Any company directors here with "tips of the trade "

Thanks
 
dividends do have less tax attached 8)
company car will be classed as income. The amount is calculated based on RRP(not price paid) and the car's emissions.
Cars with super low emissions are tax free (bmw i3 etc currently, but that will likely change soon)

Alternatively....have company buy a car. Leave it at work and commute in the bmw to work, then get into the work car and drive it wherever. No company car tax will need to be paid as long as its solely business use.

Emissions will still be important though from a corporation tax standpoint as it effects how quickly you can depreciate the vehicle from a tax perspective.

I think that's right :roll:
 
Brill...thanks

Not sure how i can leave the car at work as we have offices in the town centre without parking.

I like the idea of the company buying a car though. Always fancied an R8 lol !
 
What are your trip lengths and where do you typically go? Tesla S might be a viable option.

Sent from my GT-P6810 using Tapatalk
 
chester2000 said:
All good choices thanks !

My main criteria is something fun/quick to drive and something the taxman won't kill me on Tax !

The rules around company car tax baffle me slightly, especially as we intend to take the bulk of our income via dividends. Any company directors here with "tips of the trade "

Thanks
Click to expand...

I am a director and run a Volvo V60 136Hp.... :D

Assuming you are in the high tax bracket you will pay 25% on dividends above the limit and on your car P11D too. Car tax will based on the purchase cost of the car including add ons, x the ebnefit in kind percentage based on emissions. The gives you the final figure that you pay 25% tax on.

If you are having a company car the trick is the look at cars with a low list price and low emissions. If you want to add power to that then you need to pay, if you want prestige with that, it gets worse. My advice would be to go for a 3.0D, 2 door coupe which would say 4 series, Audi A5, etc

If you are doing anything like 30 - 40K miles consistently, it may be better to opt out of the company car scheme and buy your own. Make sure you are doing the mileage as you will get 45p a miles for the first 10K miles and then I think it is 25p a mile after that. Need to check as I have never done this. Basically, the more miles you do, the better chance you have of being up on the deal.

Thing to consider is all the costs of running that car compared to miles driven/cost. Also if you are off sick or unable to drive, you are basically losing money.

H.
 
Thanks H,

I'm currently claiming the mileage but at 25p a mile the E89 35i isn't cost effective LOL.

I suppose if I weigh up what I'm losing by running the E89 compared with my potential tax liability for a company car then if I am out of pocket it won't be as much as the tax.

I suppose that if I'm going to keep taking the mileage allowance, I should really find something as fun to drive that also returns great mpg.
 
Honestly if your doing 40k a year you will not care about performance and power , you want comfort and a good fuel tank range and quality tech, quick cars will only get you in trouble I cannot wait to get rid of my Mini Cooper SD buckets of fun to drive quick average from day one 50 mpg but pulled over 3 times in 2 years twice I was lucky the other not so and resulted in 3 points. I cannot wait to get my xc60 early next year safe , slow and make me drive more sensible as its too easy to drive fast in a quick car imo. As stated above the more speed and presitage you pay for it one way or another... i would rather invest the money your save into something for the weekend :thumbsup:
 
I know what you mean regarding comfort, but I'm limited with space at home so don't really have the option for something fun at weekends.

As stated in my OP I'd love something like the porsche macan, fun to drive but comfy as well, but at £60k and a waiting list no really a viable option. I must say I do like the idea of having a higher driving position, especially on the motorways.
 
Not to mention the 2 yr waiting list on them :/ we were seriously tempted until we found that out
 
Paza3 said:
Honestly if your doing 40k a year you will not care about performance and power , you want comfort and a good fuel tank range and quality tech, quick cars will only get you in trouble I cannot wait to get rid of my Mini Cooper SD buckets of fun to drive quick average from day one 50 mpg but pulled over 3 times in 2 years twice I was lucky the other not so and resulted in 3 points. I cannot wait to get my xc60 early next year safe , slow and make me drive more sensible as its too easy to drive fast in a quick car imo. As stated above the more speed and presitage you pay for it one way or another... i would rather invest the money your save into something for the weekend :thumbsup:
Click to expand...

Great post. I am looking at the XC60 when the V60 goes back in 18 months. Love my Volvo's, never had one before but so much car for the money. Had an A4 S line before that and even though I loved it at the time, I now look at it being a bit soul-less and not a great deal of fun.

H.
 
How about 428i M Sport Auto which has a 22% benefit in kind, which is only slightly higher than the 3.0 diesel and you wont be selling your soul to the diesel (It's also a lot cheaper P11D) but still 0 - 62 in 5.8 seconds

.....but it only has four cylinders and not so much torque
 
sars said:
How about 428i M Sport Auto which has a 22% benefit in kind, which is only slightly higher than the 3.0 diesel and you wont be selling your soul to the diesel (It's also a lot cheaper P11D) but still 0 - 62 in 5.8 seconds

.....but it only has four cylinders and not so much torque
Click to expand...


May as well go for the 430d M Sport Auto - 0-62 in 5.5secs, returns 54mpg against 44mpg in the 428i and has a 6 cylinder engine which is a cracker!

And has masses of torque!
 
Havard said:
Paza3 said:
Honestly if your doing 40k a year you will not care about performance and power , you want comfort and a good fuel tank range and quality tech, quick cars will only get you in trouble I cannot wait to get rid of my Mini Cooper SD buckets of fun to drive quick average from day one 50 mpg but pulled over 3 times in 2 years twice I was lucky the other not so and resulted in 3 points. I cannot wait to get my xc60 early next year safe , slow and make me drive more sensible as its too easy to drive fast in a quick car imo. As stated above the more speed and presitage you pay for it one way or another... i would rather invest the money your save into something for the weekend :thumbsup:
Click to expand...

Great post. I am looking at the XC60 when the V60 goes back in 18 months. Love my Volvo's, never had one before but so much car for the money. Had an A4 S line before that and even though I loved it at the time, I now look at it being a bit soul-less and not a great deal of fun.

H.
Click to expand...

H am looking forward to getting mine really nice drive the XC60 R-Design Lux are great value at the moment on leases , low(isn) emissions , low(isn) RRP but the residuals are excellent so for me i can get a decent spec one for golf gtd money its nuts on the new lease agreements we have been offered cannot wait to ditch the mini.... tbf its heighten by the fact we have a 18 month old now... car was ordered before baby... its been a challenge :rofl: , thankfully its not our only motor
 
Paza3 said:
Havard said:
Paza3 said:
Honestly if your doing 40k a year you will not care about performance and power , you want comfort and a good fuel tank range and quality tech, quick cars will only get you in trouble I cannot wait to get rid of my Mini Cooper SD buckets of fun to drive quick average from day one 50 mpg but pulled over 3 times in 2 years twice I was lucky the other not so and resulted in 3 points. I cannot wait to get my xc60 early next year safe , slow and make me drive more sensible as its too easy to drive fast in a quick car imo. As stated above the more speed and presitage you pay for it one way or another... i would rather invest the money your save into something for the weekend :thumbsup:
Click to expand...

Great post. I am looking at the XC60 when the V60 goes back in 18 months. Love my Volvo's, never had one before but so much car for the money. Had an A4 S line before that and even though I loved it at the time, I now look at it being a bit soul-less and not a great deal of fun.

H.
Click to expand...

H am looking forward to getting mine really nice drive the XC60 R-Design Lux are great value at the moment on leases , low(isn) emissions , low(isn) RRP but the residuals are excellent so for me i can get a decent spec one for golf gtd money its nuts on the new lease agreements we have been offered cannot wait to ditch the mini.... tbf its heighten by the fact we have a 18 month old now... car was ordered before baby... its been a challenge :rofl: , thankfully its not our only motor
Click to expand...

Yep, we are lucky in that respect. I have three kids. Missus has an Hyundai Santa Fe, 7 seat. I have the V60 and we also have the Supra for weekends/club stuff. Supra goes in a few weeks as I want an M Coupe now. Need to change my signature... :D

I have about 18 months until the lease on the V60 runs out but I would defo have another Volvo. Will look a the XC's and see what deal I can get.

H.
 
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