Voluntary termination.
Discussion
randlemarcus said:
hora said:
14PPM?
That wouldn't even cover insurance, fuel, wear and tear or mileage. That taking advantage if any company had that.
Company car, daft lad, not car allowance That wouldn't even cover insurance, fuel, wear and tear or mileage. That taking advantage if any company had that.
Effectively, it's a refund for the fuel you used when driving like Miss Daisy.
hora said:
14PPM?
That wouldn't even cover insurance, fuel, wear and tear or mileage. That taking advantage if any company had that.
So with the Celerio, assuming a 40% taxpayer... That wouldn't even cover insurance, fuel, wear and tear or mileage. That taking advantage if any company had that.
£44/month company car tax - £233 mileage claim
10ppm for fuel = £167
No other expenses = £211
So £22 net
With the Leon
£0 company car tax - £x car allowance - £541 mileage claim
16 ppm for fuel = £266
5 ppm for servicing and tyres
7 ppm for excess mileage
£40 per month for insurance
So £35 net even without a car allowance.
Given that the lease may be a fixed cost, I'm not so sure it makes sense to be driving the Celerio.
Trabi601 said:
I very much doubt anyone commanding a salary in the 40% band will be getting a Suzuki Celery as a company car!
Probably not out of necessity, though there are plenty of 40% taxpayers who get nothing. OP may have chosen it on the basis that all the cars are appliances, so choose the cheapest.In this case, the difference is only £22. That could easily be cancelled out by the availability of car allowance (although that might not allow the same amount of mileage to be claimed), or simply doing fewer business miles (at 16p for fuel + tyres, maintenance, and excess mileage, the OP is probably losing money after 10k miles p.a.).
CYMR0 said:
Probably not out of necessity, though there are plenty of 40% taxpayers who get nothing. OP may have chosen it on the basis that all the cars are appliances, so choose the cheapest.
In this case, the difference is only £22. That could easily be cancelled out by the availability of car allowance (although that might not allow the same amount of mileage to be claimed), or simply doing fewer business miles (at 16p for fuel + tyres, maintenance, and excess mileage, the OP is probably losing money after 10k miles p.a.).
Don't forget applying for a tax rebate between the company mileage rate and the HMRC rate, too. Which is 5.8p up to 10k miles and 1.8p above 10k miles, assuming the company is paying 16p / mile.In this case, the difference is only £22. That could easily be cancelled out by the availability of car allowance (although that might not allow the same amount of mileage to be claimed), or simply doing fewer business miles (at 16p for fuel + tyres, maintenance, and excess mileage, the OP is probably losing money after 10k miles p.a.).
That makes a very significant difference to the calculations.
Edit: Additionally, surely there won't be a large company mileage if the OP is only getting a Celery. Duty of care to your employee would say that this wasn't a suitable vehicle for significant business mileage.
Edited by Trabi601 on Wednesday 25th January 18:35
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