 | Home > Puma (Tdci) > Company car tax...? |
 
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| TACK Member Since: 26 Apr 2009 Location: Essex Posts: 1045  
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Someone will come along either to agree or correct me but............ i think with the new 2011 models being all commercial vehicles the taxable benifit is circa £500 per year. Since may 2009 the utility version has been classified as a commercial vehicle (on certain vin numbers) and the double cab and hard tops have I think, have always been classfied as commercial vehicles
I have a fuel card on my 2010 Utility and I pay £220 per year for it  |
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11th Oct 2010 9:35pm |
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| BIGFOG Member Since: 12 Sep 2010 Location: Edenbridge Posts: 537  
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The answer is sweet and simple, but you do need to buy a new car.....
Buy an XS 110 Utility - you get 5 seats, a huge boot and its classed as a van, so you pay tax on 3k per annum, no business/private mileage to record of declare - hope you have an understanding boss |
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11th Oct 2010 9:37pm |
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| Amos Member Since: 10 Oct 2010 Location: Northern Ireland Posts: 38 
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Ok the 110 will not fit in my driveway or garage, so the 90 is the one for me...!
It is my families business, so the boss thing should be ok....lol....! My car dealer worked out that I would have to pay £270 per month, on company car tax, which is WAY to much....! There has to be away around this.... |
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11th Oct 2010 9:43pm |
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| BIGFOG Member Since: 12 Sep 2010 Location: Edenbridge Posts: 537
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Not sure where your sums came from, I pay 40% of 3000 per annum, which is £100 per month, plus £220 benefit on the fuel per annum, as it's a commercial vehicle...
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11th Oct 2010 9:55pm |
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| TACK Member Since: 26 Apr 2009 Location: Essex Posts: 1045
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Run it as a pool vehicle, don't declare it as your every day driving to work from home at weekends etc, i.e it is used for business use only. That is not taxable i.e. zero tax, as it is not a benifit in kind
 same as company van drivers.....
Fuel card, if you dont claim personal mileage then again zero, if you claim personal mileage, then there will be some tax to pay...but obviously if you claim no personal use of the vehicle you will not be claimimg for personal use of the fuel card. As regards to claiming vat back on fuel, not a clue on the rules there. 
someone om here may know of other routes to less or no tax |
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11th Oct 2010 9:57pm |
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| TACK Member Since: 26 Apr 2009 Location: Essex Posts: 1045
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Sorry big foot, your right 40% of £3000  |
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11th Oct 2010 10:03pm |
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| Amos Member Since: 10 Oct 2010 Location: Northern Ireland Posts: 38
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Sounds better already....!  Last edited by Amos on 12th Oct 2010 7:02am. Edited 1 time in total |
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11th Oct 2010 10:05pm |
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| Amos Member Since: 10 Oct 2010 Location: Northern Ireland Posts: 38
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Not really sure, as the sales man didn't have a clue in my eyes...! He worked out a figure of just over £3000 due to the CO2 and then split it over 12 months..... This is how he got the £270 per month figure.....! I'm just trying to figure out what I will get takin out of my wages each month, as this is the first time we have done this type of thing within the business..... As for fuel, I just have to put it in myself, as the truck is for my use only....! Is there anyone I could ring to figure this out, inland Revenue maybe...? As I want to be 100% sure before I move forward...!! |
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11th Oct 2010 10:12pm |
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| ken Member Since: 18 Aug 2009 Location: Banging Birds with my bitches !! Posts: 4328
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If the 90 is new and a 2011 my it has N1 classification ie a commercial if so the tax will be about 100 per month plus fuel as already said. If not your sales person is right hth
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12th Oct 2010 3:52am |
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| Amos Member Since: 10 Oct 2010 Location: Northern Ireland Posts: 38
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Great news, this sounds a bit better on the pocket. I have two choices, to take a built truck from a UK dealer, which hasn't been PDI'd or Registered, or order a spec changeable one for December delivery.! Does it have to be above a certain VIN number, or registered after a certain date to have this N1 classification.? The 90 is the Station Wagon version, so can it still be classed as N1.! Many many thanks, for the help with this... Great forum, with great members.! |
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12th Oct 2010 7:00am |
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| pom Member Since: 01 Jun 2010 Location: Worcester Posts: 1343 |
it's simple dont run a company company car its just not worth it as you have found out. You will just be wasting a large amount of cash.
On the otherhand get the VAN and it will save you tax, you can also write of 100% of the value against the years profits AND get the VAT back. No brainer really. Pom |
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12th Oct 2010 11:31am |
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| ken Member Since: 18 Aug 2009 Location: Banging Birds with my bitches !! Posts: 4328
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Pom disagree most peeps could not run the same car at the cost of tax if they owned it
Deprication Ved Show Room Tax Insurance (correct level) SMR (service, maintenance & repair) Loan Car Etc etc |
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12th Oct 2010 12:10pm |
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| BIGFOG Member Since: 12 Sep 2010 Location: Edenbridge Posts: 537
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My father in law is a chartered accountant and he did a couple of scenarios for our family company before we bought a 110 Utility (van). If the company bought a car for 25k plus vat, paid me an allowance to buy the car, which would be a net value after tax, plus the company's National Insurance contribution would have to go up, the company ends up paying roughly 47k for a 25k plus vat car, before you even dial in the extra interest you would pay if financing the purchase.
A commercial vehicle for 25k plus vat, you pay 25k for once the Vat is claimed back, plus the other company tax benefits as mentioned above. Without that there's no way we could have done it, plus when it's serviced you can always add an accessory here and there and still get the vat back!! Hope this helps, it did me! |
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12th Oct 2010 7:44pm |
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| K9F Member Since: 12 Nov 2009 Location: Bournemouth Posts: 9610
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I have just looked into this for personal reasons and admittedly I am not 100% sure as it is a minefield but as I see it....if the vehicle is 'Benefit In Kind' namely you can use it for personal use the taxation is higher. With small company advertising on the vehicle and removal of the 'Benefit In Kind' status the tax is non existant. If you have a company fuel card you can also consider binning it and claiming for your fuel from the company instead, this will also reduce your taxation.
With the company I am about to work for the vehicle is 'Benefit In Kind' and I will be taxed at about £70 per month if I stick within budget, but at that it is still cheap motoring with no sevicing costs, tax etc. etc. to pay! Hope this helps. If you go through life with your head in the sand....all people will see is an ar5e!!
Treat every day as if it is your last....one day you will be right!! |
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13th Oct 2010 8:03am |
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