Company Car / Car Allowance
31-01-2007, 03:30 PM
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Company Car / Car Allowance
Just a quick question for people in the know:
I don’t have a company car or a car allowance; I use my own personal car and do lots of miles [22’000 miles this tax year!! – probably be 25k by the end of the year
] I get paid 40p a mile for the first 10’000 and 25p a mile after that which is the max rate the government allows.
How does a car allowance work? Do people get paid a sum of cash + a figure per mile?
How does a company car system work? How much would it cost me and is it worth pushing the company for?
What I want to know is can I get paid more money for the mileage I'm doing in my own car??
I don’t have a company car or a car allowance; I use my own personal car and do lots of miles [22’000 miles this tax year!! – probably be 25k by the end of the year
] I get paid 40p a mile for the first 10’000 and 25p a mile after that which is the max rate the government allows.How does a car allowance work? Do people get paid a sum of cash + a figure per mile?
How does a company car system work? How much would it cost me and is it worth pushing the company for?
What I want to know is can I get paid more money for the mileage I'm doing in my own car??
31-01-2007, 04:54 PM
#2
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Company cars are taxed on value of car new and co2 emissions.
I had a car and a fuel card and got taxed around 200 quid a month. Fuel card is only worth having if you do over 800 miles privately a month- or so it works out, assuming the company would allow you to use the car privatly.
If not you dont want a company car- but a pool car that you pick up from your place of work every morning which has a fuel card for it- that way no tax to be paid. OR your company state you do not use the car for your own use and on Form P111d (benefits) it is not entered as a benefit.
My mate has a company car with Carphone like I did but no fuel card. He claims back his mileage allowance a month at a reduced rate- somet like 14p a mile- which covers the diesel only as everything else is taken care of by the lease company.
Another guy I know has an allowance. its paid into his wages as a seperate amount- he is taxed on the allowance and claims back 25p a mile (carphones std mileage rate)
The other 15p you then claim back at the end of the tax year for up to 10k miles.
Next month (March) I am claiming for a shit load of 40p's about 2200 worth.
Jake
I had a car and a fuel card and got taxed around 200 quid a month. Fuel card is only worth having if you do over 800 miles privately a month- or so it works out, assuming the company would allow you to use the car privatly.
If not you dont want a company car- but a pool car that you pick up from your place of work every morning which has a fuel card for it- that way no tax to be paid. OR your company state you do not use the car for your own use and on Form P111d (benefits) it is not entered as a benefit.
My mate has a company car with Carphone like I did but no fuel card. He claims back his mileage allowance a month at a reduced rate- somet like 14p a mile- which covers the diesel only as everything else is taken care of by the lease company.
Another guy I know has an allowance. its paid into his wages as a seperate amount- he is taxed on the allowance and claims back 25p a mile (carphones std mileage rate)
The other 15p you then claim back at the end of the tax year for up to 10k miles.
Next month (March) I am claiming for a shit load of 40p's about 2200 worth.
Jake
31-01-2007, 05:01 PM
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I believe from my experience at the mo 
I have a company van and they have now said that vans are to be classed in the car catagory for £3k per year but if you dont earn 35k within an annum then you only pay 22% of the 3k which works out at a guess of £650 per annum. Company cars are the same or go out and lease a motor? Believe you fork out say 2k first of all then what ever the monthly payments are after or if the company gives you a lease then they'll say you can have a certain amount per month. My mate has a new leon at around £220 per month which his company pays and he just pays some sort of tax 
I have a company van and they have now said that vans are to be classed in the car catagory for £3k per year but if you dont earn 35k within an annum then you only pay 22% of the 3k which works out at a guess of £650 per annum. Company cars are the same or go out and lease a motor? Believe you fork out say 2k first of all then what ever the monthly payments are after or if the company gives you a lease then they'll say you can have a certain amount per month. My mate has a new leon at around £220 per month which his company pays and he just pays some sort of tax
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