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Company cars?
Former Member
Posts: 1,876,323 The Mix Honorary Guru
in General Chat
Not sure it fits anywhere else, but I've got an opportunity to get a company car on salary reduction which would bring the full cost of the car excluding petrol to around £70 net / month, which is probably cheaper than my Volvo currently
Currently wondering what people think about the 2013 Ford Focus?
Currently wondering what people think about the 2013 Ford Focus?
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I'm a bit fed up of driving a 13 year old Volvo and feeling like I'm 50.
Went over this with accounts - his interpretation (and what theyve done for others on the scheme) is you pay tax based on the P11d benefit which is different for each car... so a new economical car works out about £30 / month!
http://www.hmrc.gov.uk/calcs/cars.htm
http://www.nextgreencar.com/company-car-tax/calculator.php
FORD Focus 1.6 TDCi Zetec 115PS DPF Manual 6-speed, 1560cc, Diesel, 5dr
P11D Price: £18,840 CO2: 109g/km
Tax year: 2013/14 2014/15 2015/16
BIK rate: 16% 17% 19%
BIK value: £3,014 £3,203 £3,580
Tax at 20%: £603 £641 £716
Tax at 40%: £1,206 £1,281 £1,432
So at 20% its about £600 - £700 a year for me (not in the 40% band heh) for that car.
Add to the fact that any reduction in gross for me also reduces student loan repayments it did work out at about £70 against my net / take home for a Fiesta which frankly is brilliant - my insurance, servicing, MOT and tax for my car currently is around £1200 a year. The focus is a little more expensive but looks to be a nicer car.
It's changed a lot over the years I've been driving. You used to be able escape the heavy taxation by getting a van instead of car, but nowadays there's little in it.
I've had all sorts of cars over the years and I also get 'free' fuel and once that's all been taken into account I've found it really doesn't save you anything financially.
What it does do is give you peace of mind - you don't have the worry about paying for breakdowns, services, tyres etc
Sorry to hijack just thought it made sense to out it in the same thread
Yes I have and it's totally dependent on getting high rate not just any rate of mobility and it can't be insured for two people to drive it and if its used for any purposes other than for me (like if my ma needed to run to the shops for herself and not me) it wouldn't be insured and they could take it back. It's all difficult and if I wanted a new scooter I couldn't and they're so expensive - 2k ish for a good one