Hector.Brocklebank
|
| posted on 20/7/13 at 01:21 PM |
|
|
Company Car Malarky
Hi All
I thought I would ask the people here
I have just gained a new job in an office based environment that will require me to visit clients a couple of times a month
So im getting a company car. Grade D (whatever that means)
Tax factor aside what's the score will they have a list of vehicle in grade D I can choose from or what ?
Some people can never handle the truth and always try to shoot the messenger instead of taking an honest look in the mirror (its always easier to
blame another than to face reality), but secretly they wish they could grow a pair and be the messenger !!!
|
|
|
|
|
Sloan85
|
| posted on 20/7/13 at 01:51 PM |
|
|
Depends on the company. We only have a couple of options at each grade, whilst other companies have much greater choice.
http://mkindygsxr.blogspot.co.uk
|
|
|
SCAR
|
| posted on 20/7/13 at 02:28 PM |
|
|
Watch out for the tax implications, if you only do few private miles and live near to your place of work the tax burden can make having a company car
an expensive option.
|
|
|
mookaloid
|
| posted on 20/7/13 at 03:52 PM |
|
|
It depends on how many miles a year you will be doing but if you are only doing a couple of thousand business miles a year then due to the company car
tax it would probably be much better financially to run your own car and have the company pay you for the miles done if that's an option.
Worth doing the sums
http://cccfcalculator.hmrc.gov.uk/CCF0.aspx
Cheers
Mark
"That thing you're thinking - it wont be that."
|
|
|
ss1turbo
|
| posted on 21/7/13 at 08:44 AM |
|
|
Each company has its own rules and "Grades" as to what you can and can't have. Current company used to have a financial calculation
based on residual value but if it passed the number game you could have it (meant you could have an Audi A4, but not a 1.6 Focus...but basically no
restriction). New system is based on a mix of lease cost and mpg as its now outsourced and there's a hard and fast list. Not on the list?
Can't have it.
Previous company had a very small list for my grade - a Peugeot 407, Astra or a Focus all with a low power diesel...but it was a French owned
company..
Do the sums on the tax - there are some surprises so check the BIK value of each car as that dictates how much the taxman has off you every month.
Two seemingly similar cars can be quite different. I use comcar.co.uk to see the tax bill for the next 3 years as well - as the rules change annually
(for the worse).
Also be very wary of fuel benefit - basically if the employer pays your private fuel as that can double your tax bill. I have a fuel card for all
fuel but pay private mileage back, so incur no tax liability. If you claim business fuel back at x pence per mile, get some real world mpg figures
for whatever car you choose - it might say is does 72mpg in the blurb, but it may not better 45mpg in real life.. Try fuelly.com for real world
figures.
Also, don't assume a diesel is better...
Long live RWD...
|
|
|
stevebubs
|
| posted on 21/7/13 at 10:05 AM |
|
|
www.comcar.com if you want a car tax calculator...
|
|
|
Ninehigh
|
| posted on 21/7/13 at 12:17 PM |
|
|
Grade D suggests to me something like a Micra, that kind of size.
But yeah if your current car is in good nick and reasonably flash might be worth getting them to pay for yours
|
|
|
ss1turbo
|
| posted on 21/7/13 at 12:27 PM |
|
|
Depends how they run it - for us, Grade B is something medium spec Fiesta-ish, Grade C is Golf/Focus/low spec Passat/3 series/A4 and Grade D is
management (mid range Merc C/Jag XF/Audi A5/A6 etc).
Long live RWD...
|
|
|
Not Anumber
|
| posted on 21/7/13 at 02:21 PM |
|
|
Unless having a company car would be a real and tangible benefit to you then tell them you have a perfectly good car and will just charge the usual
45p a mile for business mileage in your own car.
You will make a small amount of money on every business trip and no tax implications. Frankly i'm not wowed by being seen driving a car with
the latest registration so would not consider a company car as anything other than an unwelcome tax liability.
|
|
|
ss1turbo
|
| posted on 21/7/13 at 02:51 PM |
|
|
In my case I do about 30k/year business mileage which slightly annoys that I pay tax on what is effectively a tool to do my job.
If its only a couple of times a month you'll use it for business use, I'd see if there's an "opt-out" scheme and take
the cash...and if need be hire a car for those 2 days at £40 a day or so if they insist (like a previous employer) that anyone opting out had to have
a car under 5 years old, 4 seats and 4 doors..
Long live RWD...
|
|
|
