New job with lots of travel......
Discussion
Hi All.
I have managed to get a great job. Its only a 8 mth secondment, but i hope that i will get made permanent. The role involves lots of driving to visit vehicle manufacturers. My company offer me 45 pence per mile as a claim back value.
At the moment, my fleet is a Boxster S and an Alpina B3 3.3. I guess that 45p/mile is probably not enough to cover the cost of running either of these to business meetings, plus the additional business insurance.
Has anyone done the maths, to see what the actual costs are? Is 45p/mile stingy? I guess so as the company i work for is a government arms length body.
Thanks
I have managed to get a great job. Its only a 8 mth secondment, but i hope that i will get made permanent. The role involves lots of driving to visit vehicle manufacturers. My company offer me 45 pence per mile as a claim back value.
At the moment, my fleet is a Boxster S and an Alpina B3 3.3. I guess that 45p/mile is probably not enough to cover the cost of running either of these to business meetings, plus the additional business insurance.
Has anyone done the maths, to see what the actual costs are? Is 45p/mile stingy? I guess so as the company i work for is a government arms length body.
Thanks
Ray Singh said:
Hi All.
I have managed to get a great job. Its only a 8 mth secondment, but i hope that i will get made permanent. The role involves lots of driving to visit vehicle manufacturers. My company offer me 45 pence per mile as a claim back value.
At the moment, my fleet is a Boxster S and an Alpina B3 3.3. I guess that 45p/mile is probably not enough to cover the cost of running either of these to business meetings, plus the additional business insurance.
Has anyone done the maths, to see what the actual costs are? Is 45p/mile stingy? I guess so as the company i work for is a government arms length body.
Thanks
45ppm is the standard HMRC rate and what most companies pay IME.I have managed to get a great job. Its only a 8 mth secondment, but i hope that i will get made permanent. The role involves lots of driving to visit vehicle manufacturers. My company offer me 45 pence per mile as a claim back value.
At the moment, my fleet is a Boxster S and an Alpina B3 3.3. I guess that 45p/mile is probably not enough to cover the cost of running either of these to business meetings, plus the additional business insurance.
Has anyone done the maths, to see what the actual costs are? Is 45p/mile stingy? I guess so as the company i work for is a government arms length body.
Thanks
Whether or not it covers the actual cost depends on the age and value of the car you drive. When i first started out in Audit I was doing a lot of travelling in a 10 year old Nissan Sunny - it was good on fuel and depreciation at that stage was negligible, so i was quids in. IIRC the cost of fuel (for me) was 10pppm so i was making something like 20pppm profit!
OTOH if I'd been driving around in an £80k FFRR the depreciation, accelerated by the higher than average mileage, plus extra wear and tear (unlike an FFRR that Sunny was as reliable as granite!) the costs were likely to have been nearer £1.50pm..
IIRC the 45pppm is supposed to be the cost of running a brand new Mondeo.
45p per mile falling to 25p per mile after 10000 miles.
I have the same where I work.
Do you get a car allowance?
I estimated that fuel costs 15p of the above (37MPG diesel) and then maintenance etc takes another chunk.
I normally come out with around £100 per month for around 15000 miles per year.
So that’s £1200 to purchase a vehicle and run it within the allowance, not a huge amount.
Create a file and see what the boxster and other vehicle would deliver. With no restrictions you can take either car based on the weather etc but be aware the mileage soon racks up.
You will tend to be thinking Focus or similar for around £5K and run it for 4 years as a budget.
Some companies though demand the car be no older than a certain age etc.
A company car will take the tax at source from you so your no better off.
So it all depends.
Check what the second band they offer after 10000 miles, if it’s not 25p there are positive or negative tax implications.
I have the same where I work.
Do you get a car allowance?
I estimated that fuel costs 15p of the above (37MPG diesel) and then maintenance etc takes another chunk.
I normally come out with around £100 per month for around 15000 miles per year.
So that’s £1200 to purchase a vehicle and run it within the allowance, not a huge amount.
Create a file and see what the boxster and other vehicle would deliver. With no restrictions you can take either car based on the weather etc but be aware the mileage soon racks up.
You will tend to be thinking Focus or similar for around £5K and run it for 4 years as a budget.
Some companies though demand the car be no older than a certain age etc.
A company car will take the tax at source from you so your no better off.
So it all depends.
Check what the second band they offer after 10000 miles, if it’s not 25p there are positive or negative tax implications.
Ray Singh said:
my fleet is a Boxster S and an Alpina B3 3.3.
Nice! But....
Unfair to expect any employer to subsidise your automotive interests.
As others have said, 45p is the HMRC rate and based upon the use of a reasonable vehicle for the purposes required, which your fleet doesn't fall into I'm afraid. You either accept it as a contribution or buy a 5 year old Focus or don't take the job, There is no obligation from the company to pay more.
By the way, the term 'fleet' really should only apply to many more than two cars - as nice as those two cars are!
Does the company have a stipulation of what you need to have? Age/number of doors etc?
If not, then get a cheap car for work. 50mpg or thereabouts = 10p/mile fuel cost. You can do the maths for the other costs, but I seem to remember an old 306 estate was costing about 25ppm all in. Depreciate was negative (sold for more than it cost), servicing was done on the drive, so annual costs were MOT, insurance, tyres... over 10,000 miles or so it wasnt much. Even the tyres were part-worns or whatever was cheap. A nice little bonus to the pay packet. When taking a passenger you get 5p a mile more too.
If not, then get a cheap car for work. 50mpg or thereabouts = 10p/mile fuel cost. You can do the maths for the other costs, but I seem to remember an old 306 estate was costing about 25ppm all in. Depreciate was negative (sold for more than it cost), servicing was done on the drive, so annual costs were MOT, insurance, tyres... over 10,000 miles or so it wasnt much. Even the tyres were part-worns or whatever was cheap. A nice little bonus to the pay packet. When taking a passenger you get 5p a mile more too.
Rude-boy said:
I must be odd.
I buy the car I want and can afford to buy and run. My choice. My problem.
The fact I have more money to subsidise my pleasure over them paying a rate that would only cover a .9l with over inflated tyres is a bonus.
Odd post. I buy the car I want and can afford to buy and run. My choice. My problem.
The fact I have more money to subsidise my pleasure over them paying a rate that would only cover a .9l with over inflated tyres is a bonus.
Well done for waving your dick around, but maybe not everyone wants to put 25k miles on their pride and joy, and not everyone wants to subsidise their work miles out of their own pocket.
Rude-boy said:
I must be odd.
I buy the car I want and can afford to buy and run. My choice. My problem.
The fact I have more money to subsidise my pleasure over them paying a rate that would only cover a .9l with over inflated tyres is a bonus.
You're definitely odd if you're happy to pay to do your job!!I buy the car I want and can afford to buy and run. My choice. My problem.
The fact I have more money to subsidise my pleasure over them paying a rate that would only cover a .9l with over inflated tyres is a bonus.
Condi said:
Rude-boy said:
I must be odd.
I buy the car I want and can afford to buy and run. My choice. My problem.
The fact I have more money to subsidise my pleasure over them paying a rate that would only cover a .9l with over inflated tyres is a bonus.
Odd post. I buy the car I want and can afford to buy and run. My choice. My problem.
The fact I have more money to subsidise my pleasure over them paying a rate that would only cover a .9l with over inflated tyres is a bonus.
Well done for waving your dick around, but maybe not everyone wants to put 25k miles on their pride and joy, and not everyone wants to subsidise their work miles out of their own pocket.
My current role involves spending a horrible amount of fuel on a horrible stop-start commute into Manchester, paying annoying amounts of money to park in a horrible bombsite carpark on the outskirts, followed by a horrible walk to the office. Whereas my previous role was a 10 minute motorway drive into a heated underground carpark with a reserved parking space, walk 10 yards to a lift which took me up 7 floors and literally 20 yards to a corner office. It was nirvana in relative terms but the pay for my current role (and copious WFH) makes it acceptable.
In the same way having a rubbish or non-existent mileage allowance shouldn't be the only factor when considering the acceptability of a job.
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