Date: Wed, 5 May 2004 12:29:33 +0100 From: "Andy" <amm_uknospamail.com> Subject: Re: My first Saab
If you are doing 40K miles per year, I would seriously consider if it will be worth opting out of the company car scheme. You will need to consider a new or nearly new low mileage car for that kind of money. 40K per year is a lot of miles to put on your own car. If the car is off the road, who is responsible for you not getting out for a day or so? I used to cover 50K per year, and looked at opting out. The conclusion is that its not worth it. You already get a tax break for doing over 18K business miles. Better to reduce the tax burden by going for a lower emissions car. Also elect to pay for private fuel (all or some) this will reduce the tax liability. Its tempting to take the money, and think about how much you will save by buying a used or cheaper car, but the reality is very often far from this (I know). I am now self employed and running my own car, covering approx. 25K miles per year, wishing I had a company car back. Opting out is generally more beneficial to people with "perk" cars who do very little business miles, and have a high tax load as a result. The Saab is a great car though. Hope this helps Best Regards Andy "James and Sophie" <perkins.dorrington.nospamnospamorld.com> wrote in message news:FKUlc.296$wx5.98nospamfe1-win... > Looking to opt out of my company car scheme at work (UK). I currently have a > Passat 130tdi and am considering a 2000/2001 ish 9-3 tid. > > Anything I should look out for - looking to spend £8k and I do about 40k > miles a year (mostly business on motorway). > > Cheers > >
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