Ed.rooney 10:52 Wed May 20
Company Cars
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Been running a small limited company now for several years and just looking at getting 2 or 3 company cars for the directors. spent a bit of time exploring the options tax wise and p11d benefits etc, finally settled on a Mitsubishi Outlander PHEV, plug in hybrid. Does anyone have any experience with one? or company cars tax in general . . .
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Replies - Newest Posts First ( Show In Chronological Order)
BRANDED
12:29 Sat Jul 4
Re: Company Cars
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I heard only shirt lifters and accountants drive them.
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Ed.rooney
12:20 Sat Jul 4
Re: Company Cars
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Update: I've now owned one for two weeks, 21 miles on the clock when I picked it up, done 500 miles in it averaging 68mpg, this would have been more if charging card had come though in time! probably making it closer to 90mpg, can't recommend it enough.
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Spandex Sidney
5:01 Sun Jun 14
Re: Company Cars
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Beckton Bill 8:39 Sun Jun 14
Re: Company Cars
SS I was looking at these the other day. Amazing as a business car.
The only thing I need to look at is how much it will cost the business in employers costs.
This is when my mind starts exploding!
Bill, they are relatively cheap to lease for the company as the residual values will be very strong, as they are for fuel efficient cars, plus they get a £5k grant from the Government off the list price.
Tax rates for the company are really low because of the 44g/km CO2 rating, as they are for the individual.
Nationwide Vehicle Contracts do the top spec for under 300 a month (just 3 months payment down) plus vat.
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Spandex Sidney
4:57 Sun Jun 14
Re: Company Cars
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joe - ag ag ag! So important it needed to be said thrice!
The amazing thing about it is Mitsubishi claim up to 32-35 miles just on electric, owners i've spoken too reckon it's more like 25-28. Now my work is 10 miles away which means I can do the full commute on just electric power. Overnight full charge costs about a quid!
When the battery gets low, the engine starts but just as a generator for the batteries, which is clearly much more efficient than the engine driving the car. Motorway speeds is the engine's work.
I hardly do motorways, living as I do on the Isle of Wight so I will get the most from the technology. If you do loads of motorway miles then not so much.
But 5% BIK tax and 5% private fuel tax is not to be sniffed at. Free road tax, sweet!
99% of my journies are less than 20 miles and people like that will gain the most from this technology. Plus permanent 4 wheel drive, not too shabby. I'm getting a charging point fitted at home and the government pay 75% of the cost of this.
I'm getting the GX4h as I wanted the reversing camera and electric boot because I am a tart! Aug/Sept delivery for me though.
For those interested the new model is coming soonish but it is totally HIDEOUS!
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joe royal
3:38 Sun Jun 14
Re: Company Cars
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One thing to be wary of with the Eco cars is if you have a lot if gadgets they will drain the battery a lot. Also any mpg figures are nothing like you will actually get in real use. And if using on shirt journeys at lower speeds consumption will also increase
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Ed.rooney
2:16 Sun Jun 14
Re: Company Cars
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SS, I took the plunge too, had a test drive last week, very impressed, you're right about the cabin.
I went for the gx3h because the difference between them was 4k for what is quite a shit sat nav system, reversing camera and a few bells and whistle safety crap. Gonna drop in the Alpine iLX 007 apple airplay head unit instead!
Should be delivered end of next week.
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moilepetitchien
12:48 Sun Jun 14
Re: Company Cars
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Spandex - would be very interested as to how you get on with one of these mpg wise as we are changing our company car next year.
Will send you a who mail - cheers
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bruuuno
11:15 Sun Jun 14
Re: Company Cars
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One thing to be wary of with the Eco cars is if you have a lot if gadgets they will drain the battery a lot. Also any mpg figures are nothing like you will actually get in real use. And if using on shirt journeys at lower speeds consumption will also increase
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penners28
11:08 Sun Jun 14
Re: Company Cars
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What about trouser or jumper journeys?
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bruuuno
11:05 Sun Jun 14
Re: Company Cars
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One thing to be wary of with the Eco cars is if you have a lot if gadgets they will drain the battery a lot. Also any mpg figures are nothing like you will actually get in real use. And if using on shirt journeys at lower speeds consumption will also increase
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Beckton Bill
8:39 Sun Jun 14
Re: Company Cars
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SS I was looking at these the other day. Amazing as a business car.
The only thing I need to look at is how much it will cost the business in employers costs.
This is when my mind starts exploding!
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Spandex Sidney
1:53 Sun Jun 14
Re: Company Cars
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Sorry to ressurect this but it's been on my mind as i'm due a change for myself (as I said, we lease 8 from NVC) and I'VE ONLY GONE AND ORDERED ONE!!
I am a fucking eco warrior, me.
Permanent 4x4 car that does 148 MPG!! FOMB! The cabin isn't worth a £40k car but the technology is.
The hybrid blows what i said about paying yourself personal fuel out of the water. These cars attract 5% BIK rate, so if you can keep yourself below the higher rate band, and you should if you have your own limited company, all this car will cost you personally is about 400 notes a year in BIK and 200 notes for private fuel, for a whole fucking year!!
I'm gonna book a holiday with the 2 grand i'm gonna save this year.
Buy the Mitsubishi, pay yourself private fuel and forget what I said about that if you have bought a hybrid.
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Far Cough
9:53 Thu May 21
Re: Company Cars
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Become a bus wanker like me, fuck all that mileage bollocks
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Ed.rooney
9:47 Thu May 21
Re: Company Cars
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thanks for all the advice. Whittlesea hammer: I'll be in contact if my local dealer doesn't get his finger out soonish . .
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Westside
3:09 Thu May 21
Re: Company Cars
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Johnson is right. The miles per gallon rate you can claim for fuel used on business mileage of a company car is 13p per mile up to a 2 Litre engine.
https://www.gov.uk/government/publications/advisory-fuel-rates/advisory-fuel-rates-from-1-march-2015
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Johnson
1:07 Thu May 21
Re: Company Cars
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For a proper company car I don't think you can do that, Spandex as the 45p is to cover the individual for wear and tear and servicing on THEIR car, not one paid for by the limited company.
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Grumpster
1:06 Thu May 21
Re: Company Cars
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Someone I know has a company car and it's an Audi R8.
I work for the wrong company obviously!!
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whittlesea hammer
1:04 Thu May 21
Re: Company Cars
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Hi I am a Mitsubishi dealer in Peterborough so what would you like to know, if you want to contact me at Unity Peterborough just ask for the hammers fan, will answer all your questions coyi
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Spandex Sidney
2:05 Thu May 21
Re: Company Cars
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Bollocks to all that, it's simple, pay for your fuel yourself and just log your business miles only. Pay yourself 45p a mile (the max allowed by HMRC) for the first 10000 and 25p for the miles thereafter.
You will be well in pocket, thats £4.5k for 10000 miles in your bin tax free and the fuel will be nothing like that. Plus the company pays for the servicing. Dunno if it's different for a hybrid though?
Talk to your accountant, that's what mine told me to do and I trouser an easy £5k each year tax free from it.
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. .
12:47 Thu May 21
Re: Company Cars
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You can go on HMRC and calculate the tax they will take for the car
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Charoo
12:33 Thu May 21
Re: Company Cars
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Looking into this myself right now, looking at an outlander phev or Mercedes have brought out a new c class hybrid - c350e which like the outlander is 5% tax - so a fully expensed company car for a 40% tax payer costs a total of £117 per month according to the sites I looked at.
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