The definative Co Car vs Private Car thread . . .

[khushy]

As a fair few people here are business owners (I guess) can we get a "definative" co car thread going with some actual implications on costs/tax etc - Eric MC seems to know what he is on about and I for one would welcome an ABSOLUTE idea of costs/tax etc.

The Scenario . . .

Employee (not director) - PAYE
Car - Mercedes SL500 2002 cost price in 2002 £67150
Servicing £1000 pa
Tyres - £1000 pa
RFL - £300
Petrol - £5 per gallon
Insurance £1000 pa
Cost of used car £35000
Deposit £20000
HP - £460 pm x 36
20,000 business miles pa
Tax code 522L

Co car vs Private car please

Khushy