FAO Rotty / Private car drivers (Tax Relief question)

  • Thread starter Thread starter Jez
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Jez

Jez

Jez

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Rotty, i understand that you claim business mile tax relief? i am looking seriously into ditching the company chariot and this might make it viable at the rates i am seeing (40ppm/25ppm).

Is there any chance i could have a little chat about how it all works in practice? I think i have the relevent form (P87) but can find very little information about it all.

Sadly i do not have your email address, so thought i would post here instead. :) Thankyou.
 
My company only offer 12ppm, making a private car out of the question.

However i understand i can claim tax relief to make it up to the guideline amounts, which means i could ditch the company car and buy something myself :)
 
That 12ppm is obviously on top of the car allowance which they would pay if i ditched the company car, but even that added i cant run a private car. I would be relying on the overpayments on milage to pay for the cost of the car and maintenance. :)
 
Sadly my employer will not negotiate at all, its either a set amount (to an exact penny) plus 12ppm, or the Leon fully paid with fuel card which can also be used as much as we like for private use too.

Its going to work out very close money wise both ways, but the first way i will get to choose the car. :)
 
I could also actually profit per month if i went for a cheap 2nd hand car, instead of a new one :) This is the route i may well take.

Need to speak to rotty though, as he knows about the tax claim back part :(
 
Does anyone have rotty's email address at all? I am guessing he is away or something :(

jt ^ hotmail.co.uk
 
NickXX said:
I got 9p/mile on my company car, but you do get the tax back (on 12,000 miles, I got £2,000 back - don't ask me how it was calculated!).
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Click to expand...

See that doesnt make sense to me, 12,000 miles should work out to a claimback of £3420 going on you already getting 9ppm. Another reason that i wanna talk to someone who actually uses the scheme in the way i would use it :)
 
As i said i have already read all the inland revenue information and downloaded what i believe to be the appropriate forms, just wanted to speak to someone who actively claims so that i can understand what actually happens and how they find it :)
 
Thanks for that rotty :) Can you run quickly through an example of what i would get back in this situation.

Milage 20,000 per year. Company payout 12ppm. As far as i can tell i would get 28ppm for the first 10,000 miles, and 13ppm after that. Thus making a total claim of £4100? Or have i missed something with how this works.
 
I am really not sure, that £900 would pay for insurance but that would be about it, its not the huge load of cash that i thought it would be which would have offset the running costs of a better car than the leon.

Unless i was given a car and had no monthly costs associated then i dont think i could afford to replace the leon, not when i take into account that i use a hell of a lot of private fuel on the fuel card which i would suddenly have to pay for :(
 
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