Comapany Car Allowence Tax Breaks ??

colinsmith

Hi there I get £450 paid into my pay packet for my company car allowence. I have brought my own car over 4 years from a garage and have had it now for 2 years.

I have a fuel card and all fuel is paid on this card. Private milage is worked out at the end of each month and I pay that back to my boss.

Is there any tax breaks in can claim for ???


Thanks Colin

chriiiiiiiis

No, because you're not incurring any expense related to your employment.

jennifernil

if the OP is using his own car for work, and the £450 allowance is taxed, would he not be entitled to claim tax relief on 40p per business mile less the cost of the petrol paid for by his employer?

Waggers

jennifernil wrote: »

if the OP is using his own car for work, and the £450 allowance is taxed, would he not be entitled to claim tax relief on 40p per business mile less the cost of the petrol paid for by his employer?

I would assume they can as I am in a similar position. I recently opted out of company car ownership and purchased my own vehicle to be used for business and I get an allowance of around £450 per month paid via the salary system and taxed in the usual way. I then claim 40p per mile which is paid to me free of tax. This is for the first 10,000 miles in a tax year, after that it drops to 25p per mile.

amf

jennifernil wrote: »

if the OP is using his own car for work, and the £450 allowance is taxed, would he not be entitled to claim tax relief on 40p per business mile less the cost of the petrol paid for by his employer?

That would be my view too......subject to there being adequate controls in place as regards the reimbursement of fuel for private mileage.