How much should a colleague pay to have a car share journey to work?

getmore4less

Teacher2301 wrote: »

getmore4less- Yes I do run a car but I don't charge friends for lifts nor do I expect a payment for depreciation but that's just me. Glad you confirmed the costs though - so you agree that half (lets say £100) is fair?

Inspector Monkfish - yep I know the feeling...

Blink-Eden - now there's a point - I assume this isn't capital gain is it?

I think £100 is the minimum acceptable offer, £200 is probably around the upper limit of 1/2 the full costs so anything in between or lower would be fair by mutual agreement.

No tax as long as it can be show to be a reasonable share of the costs

perhaps they should use the lift share calculator to decide

https://www.liftshare.com/calculator.asp?skin=277

Or see if there is someone else doing a similar trip nearby they can use.

Teacher2301

Thanks getmore4less - a good link - I'll pass this onto my colleague. The staff room slant on this topic is that it is totally unfair by the way but this link looks good. From what I guess are the values for the questions given, the cost comes out at £12.78 so shared this should be about £6 - £7 a day which is £130.

barriejohn69

Blink_Eden wrote: »

By the way some of the people are talking about this, it sounds more like a business deal than a favour - in which case I hope the driver is declaring it to the taxman

If that was the case then he could claim back the cost of the petrol, costs of running the car (less private use) and capital allowances. However it is travel from the home to a work place and the cost is not allowable, nor would the income be taxable so you are talking absolute rubbish.

inspector_monkfish

could K pay M in 'kind' ?
on, say, a weekly basis, or whatever suits??

APV1

inspector_monkfish wrote: »

could K pay M in 'kind' ?
on, say, a weekly basis, or whatever suits??

Are you suggesting that they meet behind the bike shed and... "settle up"?

inspector_monkfish

APV1 wrote: »

Are you suggesting that they meet behind the bike shed and... "settle up"?

haha
i'm sure they could come to some sort of arrangement !;)


talking of bike sheds - couldn't K cycle to work?
or get a scooter/moped ?

APV1

inspector_monkfish wrote: »

haha
i'm sure they could come to some sort of arrangement !;)


talking of bike sheds - couldn't K cycle to work?
or get a scooter/moped ?

I suppose they would if they could. 40 miles on a bicycle is an awfully long way each day - I used to cycle about 10 miles each way to and from work, and that was hard enough. A moped / scooter would be better, but maybe they can't ride. However, I imagine the long-term cost would be lower than the current "fare".

inspector_monkfish

40 miles is nothing to a young fit teacher...

i think the obvious answer is for K to get a job at another school nearer to home

most schools have a high percentage of staff turnover, so i'm sure K could find something....

whatusername

Can't believe this thread is still running :rotfl:

Surely k should pay m a rate depending on what the currency is doing :beer: :j :T :eek: :A :rotfl:

inspector_monkfish

whatusername wrote: »

Can't believe this thread is still running :rotfl:

Surely k should pay m a rate depending on what the currency is doing :beer: :j :T :eek: :A :rotfl:

because it takes itself so seriously, its actually funny!


hey that could make it interesting
M could base the charges to K on the USD, but K sould pay in GBP
so the amount paid would change each week
oh, just imagine the fun they could have discussing the exchange rate as they travel along their 40miles of paradise.....

they called even introduce forward trades, hedging on where the exchange rate will be in 1, 2 or 3mths

such fun - the journey would just whizz by !!

basing it on an average USD/GBP exchange rate of, say, 1.60 ($320 = £200)

at current exchange rate of 1.40, K would have to pay £228.57 ($320)
but 1yr ago when the exchange rate was up at 2.00, K would have got away with only paying £160 (still $320) .... WHAT A BARGAIN that was !!!