Car allowance and buying / leasing

Options
I'm looking at a couple of new jobs and one is offering a car allowance plus millage. i.e. a fixed sum every month and 0.40 / mile.

I will be working from home and I am assuming I will be taxed on the fixed allowance.

Can I also claim the fuel against tax?
My insurance will rocket due to increased millage and business usage. Can I claim this?

If I buy a new car with the allowance can I claim as if it was for business purposes or at least a % of that?

If I lease the car (contract hire) can I claim this against tax?


Finally given the options
- buying
- credit lease
- contract lease

Which is likely to be most tax efficient?

Comments

  • Poppie68
    Poppie68 Posts: 4,881 Forumite
    First Anniversary Combo Breaker
    Options
    Which benefits do you claim?
  • daninmanchester
    Options
    None, I'm single, the wrong age, wrong gender and earn too much :(
  • Poppie68
    Poppie68 Posts: 4,881 Forumite
    First Anniversary Combo Breaker
    Options
    What's with the grumpy face.....its a good thing that you don't need To claim...



    Anyway your question would be better placed on either the Cutting Tax board and I'm sure you will get some answers on the Employment board..


    This board is for Tax credits and benefit questions..
    Good luck.
  • daninmanchester
    Options
    Because I pay higher rate tax with no relief.

    I didn't realise this was the dole queue ;) I must have misread or clicked the wrong topic area!
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 343.8K Banking & Borrowing
  • 250.3K Reduce Debt & Boost Income
  • 450K Spending & Discounts
  • 235.9K Work, Benefits & Business
  • 609.1K Mortgages, Homes & Bills
  • 173.4K Life & Family
  • 248.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards