The cost of getting to work.

talksr

telboyo wrote: »

If you are spending 65gbp per week getting to work you need to be earning 100 gbp or 5200 p.a to cover this excluding wear and tear on your car you must be doing 400 miles per week 20000 p.a at HMRC rates that would be equivallent to 6.5 K P.a. Factor in 8 hrs per week driving @ 6gbp per ghr that is another 2500 p.a

Is all this effort worth 9k p.a? I was doing the same recently but also living away from home and paying digs worked it out as costing me 16K p.a..
Gave up work and now work 16 hrs per week at min wage and am extremely happy- I don't even need to blag tax and receive no benefits just a occupational pension of 6 K p.a

Very sensible thread.

Ronny33

You've probably thought of this already but some places have car sharing schemes. My employer in Cambridgeshire runs one for example.

telboyo

Surely if the revenue allows you 40p per mile that means you do not pay tax on that 40p - In my reckoning that means you get 20% of 40p which is 8p per mile at normal rate or 40% of 40p which is 16P.
At that rate you are not even making a profit.