Re My Car's a write off below and Rover 75 V Rover

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Thu 30 Aug 2001 14:22
Re My Car's a write off below and Rover 75 V Rover - Paul Whitehead
Micheal


What will a new Rover 75 cost - £20k for a half decent spec - similar to the £5k 623GSi

You say that,

"There's a 623GSi going at a garage near Sandhurst on a 97R with 60K on the clock for £5450".

I would say, buy the 623, keep it for 12 months and then it's yours for free, as a new 75 will depreciate mote than £5450 in 12 months.

If your a private motorist, on PAYE and hence cannot write the cost off to tax, then buying new is an utter mug's game.

Regards Paul
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Thu 30 Aug 2001 15:08
Re: Re My Car's a write off below and Rover 75 V R - Michael Thomas
Couldn't agree more, see thread above.
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Thu 30 Aug 2001 21:59
Re: Re My Car's a write off below and Rover 75 V R - Mark
Just a note

even motorists who are PAYE can claim tax relief on their motoring expenses if they use the vehicle in connection with work they do for their employer. For example use their own car to visit clients or other offices.

You need to keep records and receipts but also need a P87 from your local tax office on which to make the claim.

Its quite a tedious process and my tax adviser does mine for £25 a year. If you want to do it yourself also get leaflets IR125 and IR 161.

The claim requires details of Fuel, Servicing costs, Repairs and Parts, VED, Insurance costs etc and can also take account of loans to buy car and the like. It better in your pocket than theirs.

as ever

Mark
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