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Post by Deleted on Jun 16, 2017 17:22:57 GMT
40,000 miles a year at HMRC mileage rates is about £13,000 tax free if Humph had his own car. That's a lot of cash with which to buy and run even an expensive car. Plus a car allowance? What, say £4,500pa. So even after tax you have got at least £15,000 to buy and run a car. Could you lease, fuel, maintain and insure an E250 estate on that over two or three years at 40,000 miles? Must be feasible?
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Post by Deleted on Jun 16, 2017 20:03:59 GMT
At 40,000 miles/year he'd jump from Humph corporate leasing to Humph personal leasing. After 3 years, return at 120,000 miles would be a different ball game. I know how picky they try to be at 45,000kms - lease companies on personal leases think they're going to get something factory fresh back after three years use and three winters.
Funny how stringent a manufacturer backed dealership is for a 3 year trade in Vs one of their manufacturer backed three year forecourt vehicles. They must all get shipped back to the plant and run down the lines again, you'd think !!!!
Not worth the hassle for Humph's mileage IMO.
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WDB
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Post by WDB on Jun 16, 2017 20:20:14 GMT
Jun 16, 2017 17:18:20 GMT 1 tyrednemotional said:
...fraught with difficulties, and a few practical issues as well, but one thing you might want to have a look at is absolutely no private use of the business car at all. It appears to be possible, even if you are working from home, as long as every movement is business related, absolutely no private use at all.
Wouldn't the car have to be kept at business premises for that? Perhaps Château Humph qualifies as such but he'd need to budget for a bottomless tub of choc treats for the HMRC bloodhound if he tried it.
As for HMRC allowances, aren't those intended to cover costs of ownership for those who don't receive a car allowance? Certainly, wherever I've worked there's been an equivalent of the 40p (now 45p, I think) rate for those without an allowance and something much lower - 17p at my last employer, 13p at the one whose offer I rejected this year - for those with.
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Post by tyrednexited on Jun 16, 2017 20:40:30 GMT
Wouldn't the car have to be kept at business premises for that? Perhaps Château Humph qualifies as such but he'd need to budget for a bottomless tub of choc treats for the HMRC bloodhound if he tried it. ...It would be dependent on Humph's home being defined as his normal (designated) workplace (I'm assuming from his past posts that it is - in which case occasional visits to "head office" would not count as commuting, but business use), and there being a legally enforceable ban on him using it for private purposes (AIUI, a clause in the employment contract viz a viz the car would be enough). The second part is that the onus of proving non-private use falls on the individual, and would probably require meticulous recording of mileage on trips. I certainly wouldn't try to abuse such an arrangement, but (especially in a small company where the MD is well known) it would probably be viable. HMRC have guidelines, and there are various case-studies available on the web. www.gov.uk/hmrc-internal-manuals/employment-income-manual/eim23405....is a decent starting point, and, if you think about it, it is a logical positioning. (I've come up against "pool car" implications in the past, and was pretty sure there was something similar to cover this situation). |
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Post by Humph on Jun 17, 2017 7:13:53 GMT
Fairly inconvenient though, which is why I was looking at the van idea where the costs of private use are minimal. Still a bit restricting if you need to carry passengers. Although in truth, most of the time it's only me in the car other than at weekends when other vehicles could be used.
Might sound odd, but driving my wife's car or my son's is psychologically like being "off duty", so maybe there's something in that.
Bottom line though is that what I probably should do is try to identify an estate car that ticks all the work practicality boxes but that has a lower tax burden than my current one. It's quite notable how much more the "bells and whistles" models cost in tax than the lower spec ones. For example, the Merc I've got now has quite a high toy factor, but if I went for the same car in entry level spec ( still a very nice thing ) that alone would save nearly £100 a month.
Then again, I can afford it, and at my time of life why should I worry about it? It's just my look after the pennies and the pounds will look after themselves mindset I suppose.
When you've had less than nowt a few times in life it does serve to remind you not to deliberately waste money, but on the other hand it teaches you to enjoy things while you can.
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Post by tyrednexited on Jun 17, 2017 7:21:38 GMT
Fairly inconvenient though...... ....not sure I would want to do it either, but my mix of private/works mileage when I had a company car wasn't quite as dramatic as yours, and the "spec" for the car I needed not quite so restrictive, and of necessity, BIK intrusive. It was simply an illustration of an option - the potential saving could fund something nearly-new (post-depreciation) and "interesting" as a runabout. (Have you considered something like, say, a Westfield?) |
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Post by Humph on Jun 17, 2017 7:25:05 GMT
You know, that sounds like a bit of an idea...
🤔
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Post by Deleted on Jun 17, 2017 18:18:10 GMT
For example, the Merc I've got now has quite a high toy factor, but if I went for the same car in entry level spec ( still a very nice thing ) that alone would save nearly £100 a month. Then again, I can afford it, and at my time of life why should I worry about it? Let's face it, you'd just spend the £100/month saved on falling down a mountain bike equipment. Better to nurse those aging bones with a nice car at your time of life. |
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Post by Humph on Jun 22, 2017 21:00:07 GMT
Hmmm, could I, should I ? Maybe !  |
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Post by Deleted on Jun 22, 2017 21:35:21 GMT
Hmmm. I was at a site last week. The occupiers rent out those HIAB crane vehicles and do other sorts of large/heavy load transporting as well. I was chatting with the MD when one of the above Orange Ford Ranger's appeared at the gates. He wan't impressed. Thought it a bit (well a lot) posy. Liked my Merc though  |
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Post by Humph on Jun 23, 2017 7:03:20 GMT
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Post by tyrednexited on Jun 23, 2017 7:35:39 GMT
Yeah, I suppose it is a bit loud, but on the other hand........ VW Amarok? (with 'Truckman' cover) 3.0 litre V6 across the board from this year (though I think some derivatives are not classed as commercials). |
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Post by Deleted on Jun 23, 2017 8:32:08 GMT
Known as the Runamok in my family. Bloke at work's got one, probably for these 'ere BIK wossanames. British Racing Green, it is. Always absolutely spotlessly clean and shiny. I usually arrive at work later than most, and one of the empty parking spots is usually next to him. I think people are scared of him dinging their precious. Not me, I deliberately like to park next to it in one of my scraped up old heaps, nice and snug.
Pah. These things always scream "leave voter" to me, and I'm usually not disappointed when one of them pulls up on double yellows outside a scruffy newsagents, and a tattooed, bald, chubby halfwit in an Ingerlund shirt tumbles out of the too-high-for-him cab to go and get his Red Bull and fags.
'Ere's wotcha want, guvnor:
www.mercedes-benz.co.uk/content/unitedkingdom/mpc/mpc_unitedkingdom_website/en/home_mpc/van/home/new_vans/models/vito/vito-tourer.html |
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Post by Humph on Jun 23, 2017 9:04:02 GMT
Apparently, the new Navara is fairly civilised. More car like to drive it's said due to coil springs etc. They are even available with nav, leather, a sunroof and an auto box. One of those with a hard top...
Ugly though. And you're right Al, I might have to change my name to Wayne or Tyrone or something.
😜
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Post by Deleted on Jun 23, 2017 9:14:13 GMT
My money would be on you absolutely hating the effing thing from Day 1. A car it is not, coil springs or not. I've driven them (step father has a Navarra), all round visibility is absolutely shocking on the road (which they weren't really designed for driving on), and it rode like being in a P&O ferry on a choppy day on the Irish Sea. For God's sake forget about the fake roughty toughty outdoorsy image and get something suitable for the job. I'll never take your 'don't care about badge and image' pleading seriously ever again if you get something like a Runamok or a Navarra.
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