Trying to see if my employers are fair:
On company cars
Petrol
under 1.4 `12ppm
1.4.to 2.0 15ppm
2.01 to 3 18ppm
3.01 19ppm
Derv
under 1.4 9ppm
1.4.to 2.0 12ppm
2.01 to 3 14ppm
3.01 13.5ppm don't know why?
Are there better systems - this one does not differentiate on horse power for example a turbo 2l petrol may use more petrol than a 2.2 petrol but gets less ppm
Oil, cleaning and screen wash are included in the above rates.
Also what travel expenses are you allowed.
We get £5 for lunch - less what you would normally spend.
£25 for meals including one drink at hotels (bearly enough)
£10 for dinner if late home (after 9pm)
£5 for breakfast if starting out before 6 am
Are you allowed on route expenses eg refreshments if a trip is over 2 hours etc?
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These are much better rates then us. Derv 1.4-2.0 pays 9ppm.
We don't get an allowance for lunch.
We get £20 for evening meals.
No enroute expenses.
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You'll find our rates here on the Inland Revenue page:
www.hmrc.gov.uk/cars/advisory_fuel_current.htm
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Sounds good to me, you could make 5p a mile or more running say, a 2.2 TDCi.
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I assume these figures are if you are getting a car allowance? If you are not, then you need to look again.
As for the other expenses, it depends on the job i suppose. Regardless, why should your employer pay for your drinks in the hotel? They dont pay for your drinks when you are not out for work.
We have to do this rarely, but whenever we do, i always pay for all the drinks (as long as im there!)
Looks to me like your employers are quite fair.
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You'll find our rates here on the Inland Revenue page: www.hmrc.gov.uk/cars/advisory_fuel_current.htm
>>quoted from above site.-------- Will the rate per mile figures change if fuel prices go up or down?
We aim to provide employers with as much certainty as possible by keeping the fuel rates unchanged where there are modest variations in fuel prices. In line with the commitment made when they were introduced, they will be reviewed during a tax year only in the event of a variation in fuel prices of greater than 10% from the prices used at that time.
the cost of fuel has risen by more than 10 % since theses were introduced but the inland revenue refuse to ammend these figures.It is a ongoing argument between company car drivers and the company I work for as they are sticking to the inland revenue figures.The inland revenue has written to us and said any one claiming or recieving more will be taxed accordingly. So anyone recieving higher figure than quoted watch out.
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rustbucket (the original)
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Do not forget the tax rebates
Allowable rates are 40p for first 10,000
then 25p for business milegae above 10,000
Say you do 10,000 miles / year and your Co pays a monthly allowance + 13 p / mile
Tax rebate would be
10,000 ( 0.40 - 0.13) = £2,700 allowance
This translates into a rebate for Std rate of 2,700 x 0.22 =£594
For Higher Rate it would be 2,700 x 0.40 = £1,080.
Obviously you have to fill in tax return to claim but unless you have complicated tax already this should not take you very long. Recently the turnaround of sending off and getting the money in the bank has been 2/3 weeks.
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Unfortunately we assign the benefit of the fuel tax differance back to the company so that they can keep it - to give us a better lease allowance.
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You need to compare like with like;our company's milage rates seemed low but we were covered on their insurance unlike some who expect you to insure yourself for business use.
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Unfortunately we assign the benefit of the fuel tax differance back to the company so that they can keep it - to give us a better lease allowance.
This sounds like one of those ECO (Employee Car Ownership) schemes. They?re really nothing less than a money saving scheme for employers, with the savings made by retaining the employees tax rebate and keeping the tax that the employees would have paid if they had a company car.
The Revenue is looking hard at these schemes right now, and it?s hard to imagine they?ll be left untouched.
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Obviously you have to fill in tax return to claim but unless you have complicated tax already this should not take you very long. Recently the turnaround of sending off and getting the money in the bank has been 2/3 weeks.
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Actually it can be even better. Repayment cheques are often issued on the day that the Return is received by HMRC, if you file it on line. For once a system that works!
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Actually it can be even better. Repayment cheques are often issued on the day that the Return is received by HMRC, if you file it on line. For once a system that works!
And if you request payment by bank transfer, it's cleared into your account 3 working days after the on-line submission, or at least that's been my experience over the last 3 years...
Peter
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Oh dear we're paying far too much, far too much.
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At the moment I get £95 per month lump sum as an essential user and can claim 42p per mile that I do over and above my home to work journey.
When I switch to a lease car I'll lose the lump sum and be able to claim 12p per mile for all business miles over and above my home journey.
Regarding food/drink, if we're required to socialise for work, we claim back whatever we spend as long as it's "reasonable".
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