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Company car dilemma continues
Tracyk_2
Posts: 345 Forumite
in Cutting tax
Still can't decide whether to take company car or allowance yet. More accurate figures are as follows -
Car allowance of £5k gross per annum or a lease car up to the value of £322 per month. Higher tax payer and getting 13p per mile - though not anticipating a high business mileage and private mileage of 60 miles a day.
Current privately owned car is a Merc 220, cost us new £22k and now worth about £16k - which dh loves, but we could do with the cash by selling it.
The lease cars on the list are not very big - so dh would prob want to add something to the £322 and upgrade a bit.
Is there any great savings doing it one way or the other?
Car allowance of £5k gross per annum or a lease car up to the value of £322 per month. Higher tax payer and getting 13p per mile - though not anticipating a high business mileage and private mileage of 60 miles a day.
Current privately owned car is a Merc 220, cost us new £22k and now worth about £16k - which dh loves, but we could do with the cash by selling it.
The lease cars on the list are not very big - so dh would prob want to add something to the £322 and upgrade a bit.
Is there any great savings doing it one way or the other?
0
Comments
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I have a small 207 GT as company car, top of the range. Decided that I would have a company car & a fun car. Company one does all the donkey work & the fun one for when I want, (currently looking at classics & A couple of motorbikes) Low business milage howeve brand new car, all the toys, had a puncture after 800 miles no worried as replace free of charge! All servicing free, no insurance (Was paying £800, that is all the classic & the motorbikes will cost total as I can limit the milage) Saving & hassle makes it worth while for me.0
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