Advice on implementing company car scheme

[mrandy]

Has anybody implemented their own company car schemes, a bit of advice on how you worked out the allowances, inflation for petrol, tax, insurance over three years?

We all agree we want to buy our own car probably 6 months old with main dealer warranty and not go via a leasing company.

Thanks in advance

[Jubal]

Cash for car schemes I've been in have required the driver to pay insurance from the allowance and take care of all running costs. The amount of allowance has no science except to bring it into line with company car driver grades. The allowance is a taxable benefit. Fuel is paid at any rate per mile the company desires but is only tax free up to the IR limits. You can also use fuel cards which I prefer for simplicity. Driver claims tax free allowance from IR on the return each year based upon the rates in force minus the amount he has received from the company. HTH.