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Car allowance covered with hired car
davebim
Posts: 1 Newbie
in Cutting tax
Good afternoon,
as a part of my new job, I had the option of getting a company car or a car allowance.
As company car I can get a Mercedes A180 or a car allowance scheme of 4000£ on top of my salary of 39,6K.
I have opted for a car allowance as my business mileage will be very low (below 3000) and I will be mainly office based and the additional money could help me to cover my university loan (200£/m).
Considering I don't own a car, and really don't want to have additional expenses, and as my company to get into the car allowance scheme require the following documents: V5 log book, Insurance – showing business use, Breakdown cover, MOT (if applicable), Proof of car tax;
do you know if a rental car business could help me to get into the scheme? I was thinking of a pay as you go.
Any experience with that?
many thanks,
David
as a part of my new job, I had the option of getting a company car or a car allowance.
As company car I can get a Mercedes A180 or a car allowance scheme of 4000£ on top of my salary of 39,6K.
I have opted for a car allowance as my business mileage will be very low (below 3000) and I will be mainly office based and the additional money could help me to cover my university loan (200£/m).
Considering I don't own a car, and really don't want to have additional expenses, and as my company to get into the car allowance scheme require the following documents: V5 log book, Insurance – showing business use, Breakdown cover, MOT (if applicable), Proof of car tax;
do you know if a rental car business could help me to get into the scheme? I was thinking of a pay as you go.
Any experience with that?
many thanks,
David
0
Comments
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IMO you are using the car allowance for not the purpose it was intended for. If you already had a car then fine to use it for everyday living and paying towards your Uni loan, but beings you don't have a car, you need to buy one and use the car allowance to pay for it0
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Unless you own the car nobody is going to give you a V5 logbook !Its amazing how these banks can't even do simple calculations correctly..............0
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IMO you are using the car allowance for not the purpose it was intended for. If you already had a car then fine to use it for everyday living and paying towards your Uni loan, but beings you don't have a car, you need to buy one and use the car allowance to pay for it
It's a cheap way of paying a salary, have a word with your employer they may be able to work something out.The only thing that is constant is change.0
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