Company car vs Car allowance
| du tan |
 Posted: Mon, 02/06/2008 - 10:12am |
 
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Hi I'm trying to work out whether it would be better for me to take a company car or a car allowance. There are various calculators on the internet, just wondering if there are any accountant types on here who could give me some advice on whether its worth it or not. |
| San |
Posted: Mon, 02/06/2008 - 10:26am |
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Company car usually but depends on what car you have, list price & emmissions. Also consider the amount of business mileage you are doing etc etc |
| jeg |
Posted: Mon, 02/06/2008 - 10:29am |
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Depends what type of car - I am sure it used to be worked out on value of car when new (sub £20k) anything over you got stung more on tax, though now it is much more emissions based. My mrs had a TT company car and proper paid for it tax wise. I hear more now that leasing is a better option |
| du tan |
Posted: Mon, 02/06/2008 - 10:36am |
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I'm also looking at a TT, amongst others. Once you net down my car allowance though, it's (just) less than it will cost for me to lease one, and the various tax calculators I find are telling me I'll pay about 2.5k pa via my tax code to drive one (which is considerably less than leasing one will cost). I'm just trying to see if I'm missing anything obvious... |
| haz |
Posted: Mon, 02/06/2008 - 10:41am |
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I know my old man has a wealth of vehicles to pick from on the list, but has (to my dismay) consistently chosen Ford Mondeos. I know it certainly is affected by emissions and the value of the car - so if you have a cheap as chips car thats also efficient you should be good. |
| jeg |
Posted: Mon, 02/06/2008 - 12:13pm |
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I know my old man has a wealth of vehicles to pick from on the list, but has (to my dismay) consistently chosen Ford Mondeos. I know it certainly is affected by emissions and the value of the car - so if you have a cheap as chips car thats also efficient you should be good. the thinking mans 3 series! ;> |