PCP for limited company

neilmcl

Quentin wrote: »

Claim the mileage.

Doesn't matter that it's fully electric!

Exactly this, the mileage allowance isn't fuel dependant. I also find this the simplest method, no need to be messing around with fuel receipts etc.

CardinalWolsey

neilmcl wrote: »

no need to be messing around with fuel receipts etc.

Which the OP wouldn't have for a Tesla in any event

Mercdriver

footyguy wrote: »

If you don't keep a log of the business miles travelled (as opposed to those travelled on personal business) how can you proportion the fuel used?

And what about other runnings costs?

My accountant uses 25% of all fuel receipted as an alternative to a log. Been no objection from Her Majesty's Pocket Money Bank so far in the last 10 years...

Quentin

Mercdriver wrote: »

Indeed. The other route is to put in all fuel receipts and get a proportion of the fuel set aside from tax. Saves keeping a log.

Mercdriver wrote: »

My accountant uses 25% of all fuel receipted as an alternative to a log. Been no objection from Her Majesty's Pocket Money Bank so far in the last 10 years...

All irrelevant to the OP's situation - which is concerning an all electric car.


A log will be cost effective!!

Mercdriver

Quentin wrote: »

All irrelevant to the OP's situation - which is concerning an all electric car.


A log will be cost effictive!!

Indeed in an all electric car, the log would be the most efficient way...

jimjames

Mercdriver wrote: »

I'm essentially a one person company, and my accountant said to leave well alone of putting a car in the company name that I was going to use for personal use too...

I know the general attitude is to dismiss the advice of experts but I'd expect your accountant to know your situation better than strangers on a forum so probably worth listening to.

Sounds like the other replies above have backed their advice up

AnotherJoe

There's someone on an EV forum i frequent who is making, IIRC, about £250 a month on their electric car by claiming at the mileage rate, whilst "fueling" at home on cheap electricity. That includes their BIK payments. They are in effect being paid to run it !

bigadaj

jimjames wrote: »

I know the general attitude is to dismiss the advice of experts but I'd expect your accountant to know your situation better than strangers on a forum so probably worth listening to.

Sounds like the other replies above have backed their advice up

I think the experts thing has been over done.

The root of this comes from economic forecasts, if an economist ever gets a forecast right it's the basis for celebration, and they certainly don't get two in a row correct.