Taycan 4S Cross Turismo

Taycan 4S Cross Turismo

Author
Discussion

21ATS

Original Poster:

415 posts

39 months

Digga

33,053 posts

250 months

Monday 24th May
quotequote all
21ATS said:
At this point I'm not sure if we can claim all the vat back on the monthlies or only 50% due to there being personal use.
This is pretty much what our accountants say too, but IMHO it is still cheap motoring and harks back to the days when a car was an actual perk.

Locked my spec down a few weeks back and, like many others on there, simply could not resist the 21" wheels, even though I know they will reduce overall range by 10-15 miles.




BorkBorkBork

92 posts

18 months

Monday 24th May
quotequote all
Rear wheel steering is a must for me. Any reduction in turning circle will help getting a 5m car into a tight underground garage. And of course, you get the benefits of better cornering at speed.

I also couldn’t resist the CT 21 inch wheels.


russy01

4,547 posts

148 months

Monday 24th May
quotequote all
Digga said:
his is pretty much what our accountants say too, but IMHO it is still cheap motoring and harks back to the days when a car was an actual perk.

Locked my spec down a few weeks back and, like many others on there, simply could not resist the 21" wheels, even though I know they will reduce overall range by 10-15 miles.



Looks lovely, is it the ice grey?

Nice to see these being specced without the privacy glass - can’t stand the stuff!

VAT same impression here, only 50% as personal use.

Also what’s the deal on write down, assume you can do that with all the monthlies?

Digga

33,053 posts

250 months

Monday 24th May
quotequote all
BorkBorkBork said:
Rear wheel steering is a must for me. Any reduction in turning circle will help getting a 5m car into a tight underground garage. And of course, you get the benefits of better cornering at speed.
Yes, I decided that too.

russy01 said:
Nice to see these being specced without the privacy glass - can’t stand the stuff!
"Ugly kid glass" not required.

russy01 said:
Also what’s the deal on write down, assume you can do that with all the monthlies?
Not certain yet. This will be our first EV (have PHEV in fleet) so not crossed that bridge with accountants.

russy01

4,547 posts

148 months

Monday 24th May
quotequote all
Digga said:
Not certain yet. This will be our first EV (have PHEV in fleet) so not crossed that bridge with accountants.
I’ll talk to mine when I’m back home, currently away. The internet is full of BIK info for employees, but very little for employers.

I’m just confused in whether the write down only applies for the first year? Or whether this can be applied over the full term, in my case 36months.

Does anybody else have RWS on an existing car, does it really make that much difference? I don’t have a tight drive or anything, but most of my journeys are twisty B roads - where the slow steering on my 911 can be annoying.

Does anybody know if you can remotely enable windscreen heaters etc to help out in the winter? Mine will be kept outside... is there a specific option required for this?

Edited by russy01 on Monday 24th May 11:56


Edited by russy01 on Monday 24th May 11:56

ds666

1,708 posts

146 months

Monday 24th May
quotequote all
russy01 said:
I’ll talk to mine when I’m back home, currently away. The internet is full of BIK info for employees, but very little for employers.

I’m just confused in whether the write down only applies for the first year? Or whether this can be applied over the full term, in my case 36months.

Does anybody else have RWS on an existing car, does it really make that much difference? I don’t have a tight drive or anything, but most of my journeys are twisty B roads - where the slow steering on my 911 can be annoying.

Does anybody know if you can remotely enable windscreen heaters etc to help out in the winter? Mine will be kept outside... is there a specific option required for this?

Edited by russy01 on Monday 24th May 11:56


Edited by russy01 on Monday 24th May 11:56
Are you leasing ?

Taffy66

4,694 posts

69 months

Monday 24th May
quotequote all
With Contract Hire or Leasing the FY 100% WDA doesn't enter the equation as all you're doing is renting the car over a fixed term. The monthlies are subject to VAT on top. The car doesn't go into the business balance sheet either as an asset or as depreciation so no writing down allowance is applicable. This is my main gripe with leasing a Taycan.
OTOH the monthlies are allowable against business profit less the private proportions. VAT can be reclaimed in full if used solely for business but if there is an element of private use then only 50% of the VAT can be reclaimed.
What i intend to do is to get two quotes from my OPC, one for Leasing and the other for PCP. To compare apples with apples both quotes will have identical deposit, agreed annual mileage and term of contract. I will then run them past my accountant to include all tax savings and simply go with the option which costs less(after tax) over the whole term.
At least with PCP you can claim the 100% first year allowance against profit so the leasing will need to be ultra competitive to beat it.

Digga

33,053 posts

250 months

Monday 24th May
quotequote all
Taffy66 said:
With Contract Hire or Leasing the FY 100% WDA doesn't enter the equation as all you're doing is renting the car over a fixed term. The monthlies are subject to VAT on top. The car doesn't go into the business balance sheet either as an asset or as depreciation so no writing down allowance is applicable. This is my main gripe with leasing a Taycan.
OTOH the monthlies are allowable against business profit less the private proportions. VAT can be reclaimed in full if used solely for business but if there is an element of private use then only 50% of the VAT can be reclaimed.
[b]What i intend to do is to get two quotes from my OPC, one for Leasing and the other for PCP. To compare apples with apples both quotes will have identical deposit, agreed annual mileage and term of contract. I will then run them past my accountant to include all tax savings and simply go with the option which costs less(after tax) over the whole term.
At least with PCP you can claim the 100% first year allowance against profit so the leasing will need to be ultra competitive to beat it.[/b]
Good call that.

In broad terms, as far as future obsolescence is concerned (i.e. in case current crop of EVS become the Betamax of the future) both methods remove risk.

Taffy66

4,694 posts

69 months

Monday 24th May
quotequote all
Digga said:
Good call that.

In broad terms, as far as future obsolescence is concerned (i.e. in case current crop of EVS become the Betamax of the future) both methods remove risk.
Exactly, both methods are for using a Taycan over a fixed term before handing it back. The main difference is with PCP when you do significantly less mileage than allowed should result in a higher value of the car. This sum of returned equity is the elephant in the room which makes it difficult to compare with Leasing.
With PCP there is always the option of selling or px'ing the car before the end of the agreed term without imposing a financial penalty. This is not possible with Leasing and there is usually a penalty for returning a car early.
OTOH the good thing about Leasing is as you are hiring the car it doesn't count as debt which can be a good thing in business depending on how much borrowings/ overdraft etc the business is already carrying.
Not nearly as straightforward as it first seems.

21ATS

Original Poster:

415 posts

39 months

Monday 24th May
quotequote all
Taffy66 said:
With Contract Hire or Leasing the FY 100% WDA doesn't enter the equation as all you're doing is renting the car over a fixed term. The monthlies are subject to VAT on top. The car doesn't go into the business balance sheet either as an asset or as depreciation so no writing down allowance is applicable. This is my main gripe with leasing a Taycan.
OTOH the monthlies are allowable against business profit less the private proportions. VAT can be reclaimed in full if used solely for business but if there is an element of private use then only 50% of the VAT can be reclaimed.
What i intend to do is to get two quotes from my OPC, one for Leasing and the other for PCP. To compare apples with apples both quotes will have identical deposit, agreed annual mileage and term of contract. I will then run them past my accountant to include all tax savings and simply go with the option which costs less(after tax) over the whole term.
At least with PCP you can claim the 100% first year allowance against profit so the leasing will need to be ultra competitive to beat it.
We're currently doing the same exercise with our accountant.

ds666

1,708 posts

146 months

Monday 24th May
quotequote all
Could you share the numbers for comparison when you get them ?

russy01

4,547 posts

148 months

Monday 24th May
quotequote all
Interested to see them too. Just asked OPC for pcp option and will be doing the same maths.

BorkBorkBork

92 posts

18 months

Monday 24th May
quotequote all
russy01 said:
Digga said:
Not certain yet. This will be our first EV (have PHEV in fleet) so not crossed that bridge with accountants.
I’ll talk to mine when I’m back home, currently away. The internet is full of BIK info for employees, but very little for employers.

I’m just confused in whether the write down only applies for the first year? Or whether this can be applied over the full term, in my case 36months.

Does anybody else have RWS on an existing car, does it really make that much difference? I don’t have a tight drive or anything, but most of my journeys are twisty B roads - where the slow steering on my 911 can be annoying.

Does anybody know if you can remotely enable windscreen heaters etc to help out in the winter? Mine will be kept outside... is there a specific option required for this?

Edited by russy01 on Monday 24th May 11:56


Edited by russy01 on Monday 24th May 11:56
I had RWS on a 991.2 GTS and currently on my GT3. Both go round corners better than any other cars I’ve driven, so while I’m not sure how good it is, I’m sold.



Taffy66

4,694 posts

69 months

Monday 24th May
quotequote all
BorkBorkBork said:
I had RWS on a 991.2 GTS and currently on my GT3. Both go round corners better than any other cars I’ve driven, so while I’m not sure how good it is, I’m sold.
I also had RWS on my 991.2GTS and it transforms the car for the better. Its also standard on 991GT3s/RSs/911R so Porsche obviously think its a 'must have' on all 991 GT cars. I also had RWS on a new gen Panamera and i also had another new gen Panamera without it. I really didn't feel it benefitted those long wheel base front engined cars quite as much as the 991s i owned.
Having said that i have both RWS and the stunning new 21'' Cross Turismo wheels ticked on my Cross Turismo 4S build but might still change depending on how thrifty i feel at the time.

Taffy66

4,694 posts

69 months

Monday 24th May
quotequote all
russy01 said:
I’ll talk to mine when I’m back home, currently away. The internet is full of BIK info for employees, but very little for employers.

I’m just confused in whether the write down only applies for the first year? Or whether this can be applied over the full term, in my case 36months
The 100% WDA is only available in the first year of purchase as long the Taycan is a new one. This applies whether or not you're paying with cash or using HP/PCP. On Leasing/Contract Hire the tax allowances are taken out of the actual monthlies throughout the full term.

julian987R

1,427 posts

26 months

Monday 24th May
quotequote all
21ATS said:
julian987R said:
With mamba green seat inserts and Orange stitching
Is this the Stevie Wonder edition?
After purchasing my intent is to get the whole dash covered in wooden effect wrap. Going for the luxury yacht look.

wattsm666

609 posts

232 months

Monday 24th May
quotequote all
Don’t forget if you claim the 100% WDA when you sell it the value sold for will be subject to tax.

Taffy66

4,694 posts

69 months

Monday 24th May
quotequote all
wattsm666 said:
Don’t forget if you claim the 100% WDA when you sell it the value sold for will be subject to tax.
Its only 100% legally if there is no private use whatsoever. I intend to deduct plenty to allow for private use otherwise you risk getting a call from the IR The private use percentage needs to be accounted for at the start to give a realistic figure.

wattsm666

609 posts

232 months

Tuesday 25th May
quotequote all
Taffy66 said:
wattsm666 said:
Don’t forget if you claim the 100% WDA when you sell it the value sold for will be subject to tax.
Its only 100% legally if there is no private use whatsoever. I intend to deduct plenty to allow for private use otherwise you risk getting a call from the IR The private use percentage needs to be accounted for at the start to give a realistic figure.
Private use doesn’t apply to a company purchase. If buying through a partnership, sole trader private use adjustment does apply. If you buy in late March and use wholly for business for a couple of weeks then you can potentially claim 100% business use before going into the next tax year when you start business use. There is no clawback, but requires thought and timing to get it right.


Edited by wattsm666 on Tuesday 25th May 08:21