Discussion
For me there are too many unanswered questions in here
1 you are a company director with a lot of freedom to choose whether or not you have a company car / what it should be. But we don't know if the choice of car affects other income - ie, do you own the company with your fellow directors? If you do, you are throwing money away by having a focus rs as a co car (and your accountants are being incompetent by not giving you any advice ). If you don't you are wasting the shareholders' money by doing so - though the effect may not be significant to them.
2 we don't know how many business miles and private miles are travelled - the first 10k bus miles could attract 45p per mile payment tax free (or tax relief on diff between that and rate paid) if you have an allowance and buy your own car
I own my company and have done the maths many times over the last 7 years (I am an accountant) - and because if I have a company car it reduces my dividends, the only way to make the maths work in favour of a company car is mega low co2, so my bmw i3 is the only company car I have ever had
The taking of company fuel is massively tax-inefficient unless you are running a plug in hybrid (330e that you mention or Volvo t8 or outlander phev) or doing spectacular private miles
1 you are a company director with a lot of freedom to choose whether or not you have a company car / what it should be. But we don't know if the choice of car affects other income - ie, do you own the company with your fellow directors? If you do, you are throwing money away by having a focus rs as a co car (and your accountants are being incompetent by not giving you any advice ). If you don't you are wasting the shareholders' money by doing so - though the effect may not be significant to them.
2 we don't know how many business miles and private miles are travelled - the first 10k bus miles could attract 45p per mile payment tax free (or tax relief on diff between that and rate paid) if you have an allowance and buy your own car
I own my company and have done the maths many times over the last 7 years (I am an accountant) - and because if I have a company car it reduces my dividends, the only way to make the maths work in favour of a company car is mega low co2, so my bmw i3 is the only company car I have ever had
The taking of company fuel is massively tax-inefficient unless you are running a plug in hybrid (330e that you mention or Volvo t8 or outlander phev) or doing spectacular private miles
Sorry for the lack of information.
Yes, my co directors and I own the company, it's actually a family business.
I basically cover zero business miles, apart from the odd occasion. I currently get taxed on the car, and fuel at a loading of 25% on a car that was 38k.
The Focus RS is out of the picture now, due to its own merits,
To have the BMW 330e as company car, is a bit of a no brainer though I'd say. Wouldn't you?
Yes, my co directors and I own the company, it's actually a family business.
I basically cover zero business miles, apart from the odd occasion. I currently get taxed on the car, and fuel at a loading of 25% on a car that was 38k.
The Focus RS is out of the picture now, due to its own merits,
To have the BMW 330e as company car, is a bit of a no brainer though I'd say. Wouldn't you?
Yup - 330e a good bet financially. Not driven one to see what it's like though
You should get your accountants to give some better advice - company fuel on a car is disastrously tax-inefficient - it would be much better to pay you something as a fixed sum to replace the loss of the free fuel - the tax would be way less
You should get your accountants to give some better advice - company fuel on a car is disastrously tax-inefficient - it would be much better to pay you something as a fixed sum to replace the loss of the free fuel - the tax would be way less
Legacywr said:
The Focus RS is out of the picture now, due to its own merits
God, you're like a dog with a bone. I can't believe that I have to deal with your depressing negativity on two of my favourite forums. We get it, the RS is s
t and your scooby is better. Your approach to this entire thing has reminded me of when you ask someone to try some food and they say, "Ok, but I'm probably not going to like it" before they even pick up the fork. At that point I usually ask them not to bother because with that attitude...Splats said:
God, you're like a dog with a bone. I can't believe that I have to deal with your depressing negativity on two of my favourite forums. We get it, the RS is st and your scooby is better. Your approach to this entire thing has reminded me of when you ask someone to try some food and they say, "Ok, but I'm probably not going to like it" before they even pick up the fork. At that point I usually ask them not to bother because with that attitude...
Are you hunting me down? Are considering a 330e too? What a small world!t and your scooby is better. Your approach to this entire thing has reminded me of when you ask someone to try some food and they say, "Ok, but I'm probably not going to like it" before they even pick up the fork. At that point I usually ask them not to bother because with that attitude..."Person on internet forum, with different opinion shock horror!"
No, I read this forum for business advice.
Not a 330e, but I did strongly consider 335d Touring as alternative to the RS. In the end fun and (likely) residuals won out. The 335d would be the better car in 90% of cases but I'm banking on the RS holding it's value much better and that 10% is what really interests me. You didn't find it exciting but if you'd been on the ride I had in one I suspect you'd hold a different view - it was mental.
Not a 330e, but I did strongly consider 335d Touring as alternative to the RS. In the end fun and (likely) residuals won out. The 335d would be the better car in 90% of cases but I'm banking on the RS holding it's value much better and that 10% is what really interests me. You didn't find it exciting but if you'd been on the ride I had in one I suspect you'd hold a different view - it was mental.
Edited by Splats on Wednesday 27th April 22:57
Guess it depends on your circumstances... I'm 30s from quiet country roads and a few hours from some of the best roads in the country. I'll agree it probably won't be much fun until you drive in a manner that, if witnessed, would attract a careless driving or speeding charge at the very least. But then, what modern performance car does? Nearly everything these days requires a level of speed and/or aggression that would be heavily frowned upon by other road users and plod.
I have had company cars and car allowance and I will always take the allowance.
Basically you'll get it paid to you as per additional salary and just pay your normal tax on this. You can then use the money to buy what you like. The down side is that you need to budget for insurance and maintenance.
If you are claiming mileage at say 40p per mile, you can, at the end of the tax year, claim mileage tax relief from HMRC and you'll get a rebate. You can claim this for up to 3 years. It's a simple online from and take about 10mins to complete.
I have just done mine, sent it off on the 3rd April and had an approval letter about a week later and the money will be paid shortly. I claimed tax relief on around 14,000 miles and my companies pays at 24p per mile. My tax refund is a little over £1800 and this will cover insurance for the next year, tyres and maintenance.
Ohh and just to add, my car allowance pays for my C63 AMG as my "company car"!!
Basically you'll get it paid to you as per additional salary and just pay your normal tax on this. You can then use the money to buy what you like. The down side is that you need to budget for insurance and maintenance.
If you are claiming mileage at say 40p per mile, you can, at the end of the tax year, claim mileage tax relief from HMRC and you'll get a rebate. You can claim this for up to 3 years. It's a simple online from and take about 10mins to complete.
I have just done mine, sent it off on the 3rd April and had an approval letter about a week later and the money will be paid shortly. I claimed tax relief on around 14,000 miles and my companies pays at 24p per mile. My tax refund is a little over £1800 and this will cover insurance for the next year, tyres and maintenance.
Ohh and just to add, my car allowance pays for my C63 AMG as my "company car"!!
Chris200 said:
If you are claiming mileage at say 40p per mile, you can, at the end of the tax year, claim mileage tax relief from HMRC and you'll get a rebate. You can claim this for up to 3 years. It's a simple online from and take about 10mins to complete.
Why is there a limit of 3 years? I have never heard of this and claim tax relief on miles on my annual tax return, never had an issue.KevinCorvetteC6 said:
Chris200 said:
If you are claiming mileage at say 40p per mile, you can, at the end of the tax year, claim mileage tax relief from HMRC and you'll get a rebate. You can claim this for up to 3 years. It's a simple online from and take about 10mins to complete.
Why is there a limit of 3 years? I have never heard of this and claim tax relief on miles on my annual tax return, never had an issue.I need to question my current P11D value for my car, as our bookkeeper keeps incorrectly filling out the figure incorrectly.
My situation is that a run a JDM Subaru, which has no European CO2 figure, and, being under 2 liter, only gets taxed at 25%.
I need to find this information online, but I'm struggling to find the right information that I need to relay to the HMRC.
My situation is that a run a JDM Subaru, which has no European CO2 figure, and, being under 2 liter, only gets taxed at 25%.
I need to find this information online, but I'm struggling to find the right information that I need to relay to the HMRC.
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