Watched the Cortina video, brilliant!
Sad to see a Mk1 Lotus Cortina parked up in a scrap yard waiting its turn for the crusher

Long past the age of having to work for my living but tell me - assuming a basic rate tax payer with a BIK of £1000/m does that not equate to £200 extra tax per month which equates to driving a £35grand car, insured, taxed, service paid for, no depreciation to worry about etc . I would rip your arm off for a deal like that I suppose the downside is that you have to go to work  MY 09 GS manual in Lago Grey, Wood Co arm rest and side bumper strips - now sold.

MY 15 SD4 SE Auto Orkney Grey with colour coded Bumper Door Mouldings

Where did you get the £1,000 BiK figure from?

discofan wrote:

Watched the Cortina video, brilliant!
Sad to see a Mk1 Lotus Cortina parked up in a scrap yard waiting its turn for the crusher

Glad people enjoyed that one! I've watched that one just a few times over the last 35 years Alexi Sayle getting upset over "doing away with our car for some poxy hatchback" is still my favourite bit:D

maffy wrote:

Hi Tigger,
Have I missed something? what is the 129g barrier, is it new or something ongoing? please tell me and I will bow to your superior knowledge-then look it up!!!

I only look at what the car & fuel will cost me, leave the rest to the bean counters at the office!

They happily signed off on the Freelander metro! 2 years ago and my boss told me it was cheaper than my old C Class 136g! merc!! I found that hard to believe to be honest, but was so pleased to get the freelander-never took his statement up with him.

Please don't dash my dreams of getting the Evoque I have chosen, as from my end I save over £200 a month

Normal procedure though, if it's official-leave it to the accountants, bank etc etc etc The WIFE!!!

I am very familiar with th BiK calculation for employees, less so for the employer. However, I am told that the threshold of 129g is significant to the employer in terms of their own NI contributions and capital allowances, so much so that my employer put a blanket ban on anything >129g. Other than that, it shouldn't affect you directly. I'd let sleeping dogs lie, ignore what I've said and put in n the request for the Evoque and leave it up to them. Whatever it turns out to be, it'll be nothing that they're not paying already

Hi Tigger - just messing about and got figures from hmrc : seems a good deal to me

I guess one would opt for paying ones own fuel costs for private mileage as mentioned earlier in the thread so my £200/month cost ain't far off or have I got it all totally Wrong?

http://cccfcalculator.hmrc.gov.uk/CCF2.aspx MY 09 GS manual in Lago Grey, Wood Co arm rest and side bumper strips - now sold.

MY 15 SD4 SE Auto Orkney Grey with colour coded Bumper Door Mouldings

Hi Tenet, I wish I was a basic rate payer, unfortunately I pay 45% tax and as HMRC work retrospectively as such and the last change of car was mid-way thru the financial year I have been paying catch up via PAYE and lump sums.
I have no personal allowance and I have in front of me a balancing tax demand for £3400 to be paid by end of this month..
so after this payment and then In line with my crazy tax code I should be on a more even keel once more, then should I change to an evoque the figures payable should come down for me as the tax office catches up or something..
Mind you it is a good job that Corbyn idiot is not in power as I would be earning less than a Syrian refugee!!! Hit it he said, Hit it!--So I hit it, then he hit me---Doh!

Maffy - With and income in excess of £160,000 per annum I would have thought a couple of grand just a trifle  MY 09 GS manual in Lago Grey, Wood Co arm rest and side bumper strips - now sold.

MY 15 SD4 SE Auto Orkney Grey with colour coded Bumper Door Mouldings

Hi Tenet,
You were either a tax man, an accountant or know your way around HMRC websites

If only the gross figure was the end of the story, working backwards after tax, national Insurance and other outgoings, there never seems too much left in the bank!

I don't live on Lobster or quaff Champagne, but prefer egg & chips, Spaghetti hoops on toast etc- you know simple things---MAN FOOD!

Two grand is two grand either way, I pay the extra at the minute as that is the car I chose & drive, so no problem, if I can save a couple of grand, then maybe I can treat myself to the odd cream cake

I am not complaining as I know I have been very fortunate, but have worked hard to get where I am, but overall very lucky.
 Hit it he said, Hit it!--So I hit it, then he hit me---Doh!

Dont be selfish now, creamcakes for all forum members please! At work
At home

"I can't always believe facts I read on the web" - Charles Dickens

winner by default of the tractor vs caravan race

Not an accountant Maffy but I think you need one. If your good enough to earn that sort of income then perhaps you should become a limited company with your employer contracting your services - just keep funding that pension plan and continue to enjoy life  MY 09 GS manual in Lago Grey, Wood Co arm rest and side bumper strips - now sold.

MY 15 SD4 SE Auto Orkney Grey with colour coded Bumper Door Mouldings

One of the things I noticed in my last couple of years of employment was that the number of miles to be driven for personal use needed to be quite high to make sense in paying tax for fuel BIK. With the company Audi the break even point was 13k miles of real MPG driving. I stopped getting fuel benefit about 3 years before i took an " exit package " in May this year.
Because of the implications a lot of the guys who opted out changed their" driving behaviour" getting an extra 5mpg giving a £ 5 saving per tank if they didn't cane the cars. Then some changed to " efficient dynamics cars" and were achieving crazy MPG mid 50s etc. Factor in that the company paid business miles at a fleet average in the low 40s , and the nett result for high business mileage drivers was a very significant piece of change to hand after opting out. 2009 GS Auto Zermatt Silver - Sold June 21 after 10 years of ownership

2016 Subaru Outback SE 2.0 diesel SE Premium Lineartronic Sold 2024 after 8 years and 80k miles . Best Car I ever owned !

2023 Toyota Hilux invincible X 2.8 Auto .

Basically, if you accept/have a company car & private use/fuel- you have to pay the going rate of tax-simple.
It is what it is.
Everyone will have/run a car on whatever system works for them and whatever is available to them
For me whatever the cost in taxation, having a company car works.
so whilst I am able to I will stick with that, as it happens, over a year I actually do very little private mileage per se, but it still suits my needs.

I like things simple, then it doesn't get complicated,

 Hit it he said, Hit it!--So I hit it, then he hit me---Doh!

Of course it's each to its own Maffy I respect that , but I have a personal dread of giving the taxman some thing that I don't need to, my accountant told me to opt out of Fuel Benefit , she simply said is was costing me money . Some indeed preferred to keep the convenience of a fuel card rather than take the saving and undertake the admin of recording claiming business mileage in line HMRC rules , which do get a bit silly, for example home to Manchester airport I could claim everything , home to Leeds airport -9 miles as I drove past the office  2009 GS Auto Zermatt Silver - Sold June 21 after 10 years of ownership

2016 Subaru Outback SE 2.0 diesel SE Premium Lineartronic Sold 2024 after 8 years and 80k miles . Best Car I ever owned !

2023 Toyota Hilux invincible X 2.8 Auto .

[u]Hi Martyn,
I hear what your saying and it makes complete sense, and I certainly do not enjoy handing over such sums of money to HMRC, however as I said it works for me.
I am sure I could save quite a bit but the whole point of me doing as I do (choosing to) is that I simply refuse to do the A-B, C-D daily mileage records, stubborn? yes, Foolish? almost certainly, but I cannot be bothered to do the paperwork.
I am sure that in the future, rules will change and I too will have to comply with mileage records but until it is compulsory I just wont.
Everything is subject to change, dependant on circumstances, earnings, where you are up to in life etc.
My accountant is happy with the way I do things, yes he has suggested alternatives, but the required input from me does not justify the potential savings in my opinion.

I know I sound stupid or foolish with money, but in truth it is not the case.
Also, believe it or not the company I work for is worldwide and I am the only one-anywhere who contractually is entitled to a company car, as I say, it works for me. Hit it he said, Hit it!--So I hit it, then he hit me---Doh!