Car allowance - Calling all tax guru's and petrol heads !!

20vt-rs

Thanks for the replies so far guys - I understand the taxt side a lot better now, just need to decide what car!!! Heart is saying quick petrol like Focus ST etc, but my head is saying economical diesel. However I know that I'll get bored with the diesel unless it's quick, so BMW diesels need to be investigated. SHame they are so expensive...

bigjl

20vt-rs wrote: »

Sporty saloon definately considered, hadn't thought about the Impreza's, but I have a feeling they are low service intervals...? R32 is bad tax band @ £410 a year I think! I thought of madza 3mps bt this is the same too...

You are thinking about the EVO, the standard interval on an Impreza WRX is 10k, or it was when I had mine in 2004.

The Impreza will struggle to beat 25 mpg though, if you cain it less than 15mpg.

Your best bet for your budget, after reading your first post more carefully, £7000. Would get you into an ex lease Skoda VRS 170 TDi, which when remapped will have a 0-60 in the high 6's.

A BMW diesel may sound a good idea, but they aren't the best on fuel unless you are easy with the throttle.

Though the MetPol are about to get rid of their first lot of 330D saloons, though they are hard driven and have an autobox.

Having driven a Skoda 170tdi VRS estate then I don't think you will find a better car for your budget, they have nice half leather seats and handle well.

I would expect reasonable fuel returns especially on a run.

The MetPol I have spoken to think the 330D is a bit juicy, though the only fault they have is with the ground clearance, though they hardly drive them like they own them.

But when they break they break expensive.

20vt-rs

My work colleague has already gone into an allowance and has the petrol version of the vRS Octavia, I am very impressed with it for sure. But 2ltr TFSI is not able to achieve 38mpg easily, which I need to get if I go 2ltr or below in a petrol (he is out of pocket I presume). Diesel does sound good mind, so may explore that route - he'll be saying I've copied him for sure if I get one

sunshinetours

We're all different but I couldn't drive 20k+ miles a year in a hot hatch type car which is something else to consider!

If you can stretch the budget upto £9/£10k mark then you may have some newer (and more efficient) models open to you in the 3 series range (57 reg and even 08 possibly)

20vt-rs

sunshinetours wrote: »

We're all different but I couldn't drive 20k+ miles a year in a hot hatch type car which is something else to consider!

Yes I should consider this, I had a Leon Cupra R as a company car 7 years ago, did 138k in it over 3 years. So I am able to but I do need to think if I actually want to do that again! By all accounts the hot hatch that is good at mile munching and comfort is the Focus ST from what I read, it's just a shame that it's so thirtsy, people averaging 23-28mpg.

sunshinetours wrote: »

If you can stretch the budget upto £9/£10k mark then you may have some newer (and more efficient) models open to you in the 3 series range (57 reg and even 08 possibly)

Actually I thought about this last night, my budget is based on cash I will have available, I could in theory "borrow" a couple of £k and get this on a low / zero card or something and pay it back using part of my allowance. It would certainly give a few more options I am sure. Been looking into the BMW 330d idea and up to £7k they are very high milers already and not the shape I like. Also discovered BMW do a 335d, 290bhp standard - Yikes!!

sunshinetours

20vt-rs wrote: »

Yes I should consider this, I had a Leon Cupra R as a company car 7 years ago, did 138k in it over 3 years. So I am able to but I do need to think if I actually want to do that again! By all accounts the hot hatch that is good at mile munching and comfort is the Focus ST from what I read, it's just a shame that it's so thirtsy, people averaging 23-28mpg.



Actually I thought about this last night, my budget is based on cash I will have available, I could in theory "borrow" a couple of £k and get this on a low / zero card or something and pay it back using part of my allowance. It would certainly give a few more options I am sure. Been looking into the BMW 330d idea and up to £7k they are very high milers already and not the shape I like. Also discovered BMW do a 335d, 290bhp standard - Yikes!!

The 3335d is awesome! i have the 5 series version and the engine is astonishingly good. HOWEVER if you are truly a petrol head it will not give you same buzz as a decent straight six or V8 engine. I'll admit I miss that when comparing to my previous V8 version!

Also running costs on the bigger engined diesels will not be cheap

Go an drive a newer 320d / 318d - I reckon you could get a M Sport version for around the 10k mark with reasonable mileage (not from a main dealer I would add). The 2ltr diesel engine is very good and quick and a good mileage muncher

yogrob

Please could you advise me on petrol allowance.
As far as I have been made aware by my employer, they pay me 25p per mile for travel expenses, I am aware that the government suggests 40p is the correct amount. With a P87 claim form, am I able to claim back the extra 15p per mile?
By the time March 2011 comes to an end I would have travelled approx 8000 miles for work calls.
A colleague has me worried as they stated they only got a small amount (fule tax?) back when they claimed the last three years.

Rob

Lum

Two points:

1) HRMC rates are 40p/mile for the first 10,000 miles and then 25p thereafter. Therefore you can only claim on the extra 15p for the first 10,000 miles in any given tax year.

2) All you can claim back is the tax on the 15p, so assuming you are a basic rate taxpayer, that is 3p per mile. If HMRC made up the difference in full then every employer would just pay 1p a mile and have employees claim the rest back from the government.

As you did 8,000 miles, that's still £240, not bad for filling in a form.

20vt-rs

Hi, I’m coming up on moving from a co-car to allowance as detailed before in this thread, it's happening very soon! - Does anyone know how to work out exactly how much money I’d have available after tax, NI etc? I don't think I got that far before. I’ve read conflicting things about paying NI or not on the amount etc and I’m finding it confusing! I just want to know how much I’ll have available after deductions each month, can anyone help please? Details are:

£4700 per annum car allowance
40% tax payer
Currently paying £130 per month on company car tax

I think I work it out as £321.92 per month if I include NI or £365 per month if NI isn’t included. Does this sound right? Is there anything else to consider?

Thanks in advance.

Lum

£365 matches my calculation if you are including the "increase" from not paying company car tax. Don't know how the NI aspect works so will take your word for it on that.

If they're giving you a decent mileage rate, you could get something reasonable for that. Are there any restrictions on age or model or anything?