Company car or allowance?

[wassap]

Whats amap folks?

 

[Obl][vion]

you could easily get a porsche or a range rover sport for £500 a month on contract hire when I got a company car we used vehichle options they are quite good i found

You could if you do 10k a year, any more than that and they stuff you.

 

[Obl][vion]

that may pr may not be good news , you allowance will only be taxed at 22% but your amap relief will only be 22% too so if you are a high business mileage driver then you may be worse off

Correct, contract hire is useless if you're a high miler as they hammer you in the monthly payments. I do 30k+ a year, £800 a month allowance and I drive a Honda Accord on an HP plan which costs £296 a month, the best thing is that i a) pocket the cash difference and b) get to hand the car back after 3 yrs regardless of mileage.

 

[Rotty]

Whats amap folks?

tax relief , for example even though I pay tax on my allowance I can claim tax relief for using the car for business use

the compnay also pay me 14p per mile fuel money so I can claim 40% of 40p ( governemnt figure ) - 14p ( money I recieve ) per mile for the first 10,000 miles after that it is 25p-14p x 40% that i get

so on 15000 business mile a year , I claim ((40-14)x10000)x40%) pence = £1040

plus ((25-14)x5000)x40%) = £220

so I get £1260 a year back from the taxman

 

[wassap]

Do you get the fuel allowance if you stay in the CC scheme aswell? the lads at our place can stay in the scheme but can either take a fuel card or get 14p ish per business mile back, for me i do >8k a year private so im opting for the fuel card.

 

[Rotty]

Do you get the fuel allowance if you stay in the CC scheme aswell? the lads at our place can stay in the scheme but can either take a fuel card or get 14p ish per business mile back, for me i do >8k a year private so im opting for the fuel card.

we only get a fuel card in the CC scheme