View Full Version : Company Car vs Personal Car vs Van
stphnstevey
21st January 2009, 15:09
Tried to get my head round the calculations for this - have a look and can those in the know maybe point me in the right direction if I have gone off track!
PS - Assumed very low price enviromentally friendly car purchased
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data4|data5
stphnstevey
21st January 2009, 15:21
Adminstrator only allows 10 mins to edit a post!
It wasn't long enough for me to suss out how to add a table to a post - anyone know and then I can add what I wanted !!!!!
stphnstevey
25th January 2009, 16:07
COMPANY CAR
CORP TAX LIST PRICE
100% of list price 1st yr if environmental ~ 21%x£8000 = £1680 one off
CORP TAX FUEL
100% of 10p mile ~
15000 x 0.10 = £1500
£1500 x 21% = £315/yr
£945 over 3 yrs
VAT LIST PRICE
Not reclaim
VAT FUEL
Reclaim – same for all so cancel out
MAINTENANCE
Claim ~ £900/yr
£2700 over 3 yrs
BIK
Yes ~ £8000 x 10% = £800
£800 x 20% = £160/yr
£480 over 3yrs
Additionally Employer NIC
TOTALS OVER 3YR
£1680 + £945 + £2700 - £480 =
£3845
stphnstevey
25th January 2009, 16:09
PERSONAL CAR (USED FOR BUSINESS JOURNEYS)
CORP TAX LIST PRICE
No
CORP TAX FUEL
100% of 40p/25p mile ~ (0.4x10000)+(0.25x5000)= £5250
£5250 x 21% = £1102.50 per year
£3307.50 over 3 yrs
VAT LIST PRICE
Not reclaim
VAT FUEL
Reclaim – same for all so cancel out
MAINTENANCE
No – but excess mileage allowance
(0.3x10000)+(0.15x5000)= £3750/yr
£11,250 over 3yrs
BIK
No
TOTALS OVER 3YR
£3307.50 + £11,250 =
£14,557.50
stphnstevey
25th January 2009, 16:10
VAN
CORP TAX LIST PRICE
100% of list price
21%x£8000 = £1680 one off
CORP TAX FUEL
100% of 10p mile ~
15000 x 0.10 = £1500
£1500 x 21% = £315/yr
£945 over 3 yrs
VAT LIST PRICE
Reclaim - £8000x 15% = £1200 one off
VAT FUEL
Reclaim – same for all so cancel out
MAINTENANCE
Claim ~ £900/yr
£2700 over 3 yrs
BIK
Yes – if personal use – 3000 x 20% = ~£600/yr
£1800 over 3 yrs
Additionally Employer NIC
TOTALS OVER 3YR
£1680 + £945 + £1200 + £2700 – 1800 =
£4725
stphnstevey
25th January 2009, 16:12
Sorry, had to use three posts as couldn't find out how to post a table - hope my ramblings make sense!
Remember - Assumed very low price enviromentally friendly car purchased
stphnstevey
28th January 2009, 20:21
Ohh well, lost to the ether then......
elainec100@cheapaccounting
28th January 2009, 20:29
can only say I think you will be lucky to get a helpful reply to all of that!