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[quote=Cougar ]And get a quote for business insurance.
£0 for me when I last had that. In fact I'm not 100% sure I don't still have it.
Seems to be a loaded deal with the company wanting there cake and eating it.
So leave it at work, ring the tax office and tell them you are no longer using it for personal use.
£0 for me when I last had that. In fact I'm not 100% sure I don't still have it.
I was meaning rather "don't forget to change your insurance" but fair comment, it'll be wholly policy / insurer dependent as to whether you get charged or not.
I wouldn't get an allowance. Its and old set up for the year dot. The funeral directors in the company had a "company car" as they were on call and needed the the vehicle for work duties.
For years it wasn't even official, just owned by the company and we took them home without paying tax or fuel on them. Was a great benefit, alas prob not a fully legal one.
A few years after I was promoted as a funeral director and got use of one of the cars they got twitchy and the accountant wanted it above board. We loss the free petrol and started logging mileage and paying for personal miles. We also started paying tax as a "benefit in kind", at the time we got a payrise to cover the loss of earnings due to the amount of tax we then started having to pay.
Be diplomatic, your employers might think they're doing you a favour by letting you take the car home. I would be adamant that I wouldn't be doing it any more though.
Funeral director eh? dying trade (in first!!!)
and yet you are still paying the full BIK on it ????
Yep. Proper kick in the nads at a time in my life which was frankly shite.
Another bug bear is the fact that the tax you pay on benefit in kind is based on the retail value of the car new.
The fact that its a beaten 5 year old vectra seems irrelevant and your still paying tax based on a £19k car or whatever is is.
You may be starting to see my point of view of why I want shut of it...
Speak to payroll / finance and say you are no longer going to be taking the car home/ using it for private mileage commuting.
By doing that it is not a benefit in kind. Your company then have to inform Inland Rev. Inland Rev won't take your word.
Sounds to me like your work don't want the car leaving there over night, or think you enjoy the 'perk' of the vehicle
Why are you paying for the commute miles? Those are done for business reasons so you shouldn't be charged for them...leave it at office and cycle in...if there is no mileage on it then you pay nothing...
Why are you paying for the commute miles? Those are done for business reasons so you shouldn't be charged for them...
That's not right. Commuting to and from your regular place of work is classed as personal mileage. You could only claim commute miles if you were working at a different site.
[quote=gravitysucks ]We loss the free petrol and started logging mileage and paying for personal miles.
So you also have to pay the company for any personal use of the car? 😯
That is a bit of a bugger then...didn't know about the commute being personal mileage, does make sense thinking about it though.