Company Car vs Own Car?

meggles

I currently have a Toyota Prirus, with Private Fuel Allowance. Insurance is through company, and limits drivers to myself & other half.

This car is up for renewal in a few weeks, and I asked if I could have a car allowance instead... mainly for:

1- We have a nanny starting to look after our 2 young children. I work from home 90% of the time, so most of the time she could use our car to/from playgroup, outings, etc. Our nanny has her own car, but at £0.45 / mile, mileage can get steep.

2- I have put several small scratches on the current car. I genuinely don't care, but work does and gives me a hard time every time. I'm made to feel like a 3yo....

I had been thinking of getting a Toyota Prirus+ (7 seater), as a company car as it has low car tax (low emissions).

However, if I were to ask for a Car Allowance INSTEAD of leased car, what would be a reasonable amount? I need to factor in: lease/purchase of a car, service, insurance, wear & tear, etc. I was thinking of asking to KEEP the private fuel, as I really like that I don't have to budget in fuel going up / down.

I am a higher rate taxpayer. Any idea how much more a month I should ask for?

Thanks!!!

forgotmyname

You can ask for whatever you like. But if it costs them more than they currently pay your likely to get a no.

Keep private fuel?

They will only pay business miles, Which from what you said wont be much if you work from home a lot.

meggles

Thanks - Will find out what the lease + insurance is right now.

No, company currently pays for ALL fuel. It's itemized on my P11D as a benefit. I don't calculate business or private miles.

loskie

"2- I have put several small scratches on the current car. I genuinely don't care, but work does and gives me a hard time every time. I'm made to feel like a 3yo...."

An with that attitude I would just make you keep the current car. Company car or not you should look after it properly.

AdrianC

meggles wrote: »

2- I have put several small scratches on the current car. I genuinely don't care, but work does and gives me a hard time every time. I'm made to feel like a 3yo....

You have been placed in charge of an expensive asset, which the company WILL have to pay for damage to when it's returned to the lease company. I suspect that you might care if the car administrator handed you the invoice for the damage.

However, if I were to ask for a Car Allowance INSTEAD of leased car, what would be a reasonable amount? I need to factor in: lease/purchase of a car, service, insurance, wear & tear, etc. I was thinking of asking to KEEP the private fuel, as I really like that I don't have to budget in fuel going up / down.

I am a higher rate taxpayer. Any idea how much more a month I should ask for?

Car allowances don't work like that. You will get told how much it is, and it's very unlikely that private fuel will be included. Even if it is, don't forget that you will still be taxed on it as a benefit-in-kind, and the allowance counts as income for tax purposes.

BTW, I presume you've checked that your nanny is insured for your company car?

meggles

Thanks everyone - I've had the car for 5 years. To each their own, but IMO, two small scratches (smaller than a bank note), reported timely shouldn't be an issue.

My fuel allowance and leased car are itemized separately on my P11D. The fleet administrator suggested that I would need to negotiate the two benefits separately as they're consider separately... perhaps HR would have a different opinion?

My Nanny ISN'T insured on my company car, hence her using her own car, hence the £0.45/mile mileage I pay her. Fine for short journeys, but if she would do longer outings could easily add up.

loskie

Is her car insured for business use?