First ever company car

Discussion in 'Accounts & Finance' started by oph, Apr 17, 2019 at 2:17 PM.

  1. oph

    oph UKBF Contributor Free Member

    89 1
    All,

    Today Ive been offered a position after a successful 2nd interview.

    I have either the option of a fully expensed company car with a £300 a month value OR 41 p per mile and after 10000 miles 10.

    I live in Eastbourne and the position is based in Epsom. Now having read online the travel from home to work ISNT covered. As contracts manager id only get that allowance when I left works and go out to wherever. It would seem to me that the car would be the best option.

    As per the title. this is my first ever company car how I'm a complete virgin in this regard
     
    Posted: Apr 17, 2019 at 2:17 PM By: oph Member since: Jun 13, 2006
    #1
  2. WaveJumper

    WaveJumper UKBF Regular Free Member

    153 28
    You are correct on the above regards home to office, but I would also check out the HMRC website and work out the income tax implications for having a company car as you might also want to take this into consideration before deciding
     
    Posted: Apr 17, 2019 at 3:03 PM By: WaveJumper Member since: Aug 26, 2013
    #2
  3. Stedurham

    Stedurham UKBF Regular Free Member

    250 36
    Get a pick up tax is cheaper and does same as a car
     
    Posted: Apr 17, 2019 at 3:13 PM By: Stedurham Member since: May 11, 2018
    #3
  4. Newchodge

    Newchodge UKBF Big Shot Free Member

    11,524 2,967
    Does
    mean that the total taxable value of the car and all running expenses is £300? If not, what does it mean. What does fully expensed mean? Do you have to pay for all your own fuel?
     
    Posted: Apr 17, 2019 at 3:15 PM By: Newchodge Member since: Nov 8, 2012
    #4
  5. Newchodge

    Newchodge UKBF Big Shot Free Member

    11,524 2,967
    HMRC allows 45p per mile travel expenses before they charge tax, so your lot are cheapskates for offering 41p
     
    Posted: Apr 17, 2019 at 3:16 PM By: Newchodge Member since: Nov 8, 2012
    #5
  6. STDFR33

    STDFR33 UKBF Big Shot Free Member

    3,741 924
    Have you thought about asking for the cash equivalent as salary, and a mileage rate for business miles travelled?
     
    Posted: Apr 17, 2019 at 3:32 PM By: STDFR33 Member since: Aug 7, 2016
    #6
  7. WaveJumper

    WaveJumper UKBF Regular Free Member

    153 28
    Posted: Apr 17, 2019 at 3:36 PM By: WaveJumper Member since: Aug 26, 2013
    #7