Yeah my company have that clause but it's never enforced. One of my colleagues drives a 1999 Peugeout 306. I think a smart modern car wouldn't raise an eyebrow if there was a clampdown. His faded to matt red paint and stick on chrome effect filler cap cover with 'SPORT' printed on it might though. Still, he's been trousering the cash for three years now!
Any tax experts on here? Company car versus car allowance related
I always went with the company car option which was great doing 30 - 40 k miles a year. When I was made redundant and got another job I had to buy a car as the new company didn't do company cars which was fine, however I was still paying for the company car via tax which was handed back in the previous job. I would check that when you hand your company car back that you are still not paying the tax on it for the rest of the financial year.
Good shout, they didn't change my tax code for a couple of months when I took the car which left me owing HMRC a few hundred quid....
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