Company car vs company van vs allowance?

[talksthetorque]

Welshwonder said:

talksthetorque said:

And you can claim tax back too on that mileage rate for your own van
you are allowed 45ppm for the first 10k then 25ppm thereafter.
You can claim the tax back on the difference.
so (.45 - .12)x 10000 x40% = £1320
plus (.25-.12)x5000 x 40%=£260
so another £1580 in the kitty if you get your own van

I've wondered about this after seeing it mentioned on other threads. Absolutley no-one at work has mentioned this before. Does it only apply if you use your 'own'vehicle? Numbers like that might swing the lease van - the 'profit' from fuel rebate could be put to one side to cover any damage that may be caused.

Yes, Only if you use your own vehicle for work.
You have to do a self assessment online for the taxman if you are over a certain threshold (5555 miles) under that you do a single form for allowances. (P87)

[Shirt587]

Welshwonder said:

Shirt587 said:

Valid points

I'm still field based (automation & telemetry), so still kinda shop floor! The van/car certainly wouldn't have a easy life, to be honest. I'm lucky that I've only buckled a wheel and one tiny dent in 90K for almost 4 years. I didn't consider the damage, so that's another argument for the company van.

Looks like I'll just have to suck up the speed limiter. It would be really handy to be able to (legally) use the van for occasional personal use. I had to borrow my parents Golf the other week to collect a Sierra bonnet that wouldn't fit in my car!

Went and spoke to our SCADA guys on the fourth floor (who do similar stuff to you - boreholes and pumping stations?) One of them runs his own car, but that's because he lives near a city so gets all the 'friendly' sites which have good approach roads etc. Everyone else has a company vehicle of some sort because inevitably they've had to drive across a ploughed field or equivalent recently.

One of them is currently waiting for Transport to give him a new one after a farmer decided to dig a ditch across an access to improve drainage where there'd always been a puddle - this predictably filled with water into which he went axle deep. He claims he was going really slowly, Transport disagree, Insurance are trying to make the farmer pay...

You could run your own vehicle and it could be a money-maker (see everyone else's comments about weird tax rules and what you claim back). You only need it to go wrong once.