RE: All-new Range Rover Sport revealed

RE: All-new Range Rover Sport revealed

Author
Discussion

swisstoni

12,878 posts

256 months

Saturday 14th May
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ajap1979 said:
Who are Coleen and Wayne?
If you don’t know, you aren’t missing anything.

Its Just Adz

11,138 posts

186 months

Saturday 14th May
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ecs0set said:
And this is your proposed alternative to a new Range Rover Sport? A 20 yr old Transit van and a box trailer? Tempting... scratchchin

Tell me, does it still work if you have a penchant for white socks and crane kicks?
If you're in a Transit, I believe the uniform is white vest, jeans and pointy shoes.
Drink of choice would be a budget brand energy drink, "Kick energy" perhaps.

ate one too

2,501 posts

123 months

Saturday 14th May
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Don't forget a copy or three of The Sun wedged onto the dashboard along with empty, festering Subway and McDonald's wrappers ...

numtumfutunch

4,125 posts

115 months

Sunday 15th May
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ate one too said:
Don't forget a copy or three of The Sun wedged onto the dashboard along with empty, festering Subway and McDonald's wrappers ...
And a ropey roof rack smile

Tomanybikes

187 posts

3 months

Monday 16th May
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oop north said:
I don’t think it quite works out as half price. But current tax rates for next couple of years would be 5% bik if 70 miles EV range is possible (69 miles means 8%).

But in essence get full offset against corporation tax for all depreciation and running costs. Assuming total taxable income is within the £50k-£100k band then dividend tax is payable at 33.75% on dividends. Before you get there the corp tax (assuming profits over £50k) rate from next April is 25% (profit over £250k) or 26.5% (profit 50-250)

So assume list is £100k, car is bought with support of a loan, not contract hire, and it costs £30k in depreciation and repairs and tyres and borrowing costs. The dividends foregone are £30k x 75% for corp tax (or 73.5%) then x 64.25% for div tax. That reduces the £30k down to just under £15k. Hence the claimed halving. But you have income tax at 40% on £100k list x 5% (if manages 70 miles EV range) for 3 years so that is £6k tax to add.

Plus employer’s nic 15.05% on £100k x 5% x 3 years less corp tax relief less div tax avoided (am losing the Will to live at this point) at a guess around another £1k or so total to add is £7k for tax.

So £30k down to £15k plus £7k giving £22k cost through company so a saving of around £8k overall. Hope I got the maths right…

Anyway it’s a useful saving. The higher the depreciation etc costs then the more the saving - £30k may well be too low. So an additional £10k cost, say, (total £40k) would add post tax cost of roughly £5k or a bit less and cost you a net £5k with no additional bik or nic liability. None of that allows for vat reclaim on tyres, repairs and maintenance - full vat is recoverable on those

Should add if bik percentage rate rises above 5% then the benefit is reduced…
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