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cagiva gezzer |
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cagiva gezzer World Chat Champion
Joined: 17 Mar 2003 Karma :
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Posted: 00:11 - 13 Jun 2006 Post subject: Company van – How much does it cost me? |
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Been trying to work out how much my work van actually cost me in tax. Had a look on the HM revenue site, but I’m not really clicking with it.
55Reg van. I pay 9P/Mile for personal use and all journeys are recorded. Fuel card for the van and everything van related goes on expenses.
From what I can work out I pay £110 tax to have the privilege of being able to use this van, even if I don’t use it and I pay for any use is on top of this.
For the record I don’t really use it. 10 miles a month is usual. Normally less, sometimes more if we take the pit bike out. I have my own car and bike so the van is my least favourite weapon of choice.
Now, 2007 the tax laws change and I’ll end up paying £660 tax to have this van. £660 to babysit at weekends this van I rarely use. Work mileage is 2,000 -2,5000miles/month, personal 10-20.
So, how much do I actually pay out to have this van, and am I going to be shafted in 2007 when the tax rate goes up?
My car AND bike insurance/tax comes in at under £500 for the year, so I’m trying to avoid paying double.
Yes, I’ve asked my work, but they’re always going to paint it in a rosy colour as it’s to their benefit for me to have this van.
____________________ "because one stroke isnt enough and four strokes waste two" |
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bazza |
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bazza World Chat Champion
Joined: 27 Aug 2004 Karma :
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Posted: 00:20 - 13 Jun 2006 Post subject: |
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Hand it back with a firm "No thanks." ____________________ "That's it. You people have stood in my way long enough. I'm going to clown college."
'98 Ducati 750SS, '08 Suzuki GSX650F ©2004-2014, Bazza's Harmless Banter |
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Ant |
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Ant World Chat Champion
Joined: 24 Feb 2003 Karma :
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Keef |
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Keef Nova Slayer
Joined: 01 May 2006 Karma :
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Posted: 00:35 - 14 Jun 2006 Post subject: |
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i work for the council . have a van i get taxed around 4hundred a year . i take the van home but am not allowed to use it ( although i do. to go to my girlfriends if im staying over nite ) after reading your post mite have to look into the matter
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Itchy |
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Itchy Super Spammer
Joined: 07 Apr 2005 Karma :
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Posted: 19:44 - 14 Jun 2006 Post subject: |
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I know this one , must have changed a little , normally there is a scale charge with vans of a fixed amount per year ,
a scale charge must have changed though , just don't have ANY personal use on it , keep a monkey bike in the back or something or maybe a £500 Sachs mad ass in the back to get home and back, no use = no benefit in kind = no extra tax liabilities.
If they make you ride for the company to deliver stuff (and before anybody says if you can carry an ENOURMOUS amount of shit on a bike I carried a fridge a few days ago) , claim it back via your employer via increased wages , or if he doesn't give you jack , claim it off your tax via a P87 form or a self assessment tax return form remembering to record your milage and keep petrol recipets.
there was an identical situation today in work ____________________ Spain 2008France 2007Big one 2009 We all die. The goal isn't to live forever, the goal is to create something that will. In the end, your life will flash before your eyes. Make sure it is worth watching. |
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True Blue |
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True Blue World Chat Champion
Joined: 10 Feb 2003 Karma :
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Posted: 19:54 - 14 Jun 2006 Post subject: |
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I'll be interested to see what happens in my work when the new tax rules come in. If they think I'll paying nearly 700 quid a year for the van, they can think again. In fairness to them though, I don't pay a penny at the moment. I assume they must pay any tax on it for me. ____________________ Past >>>> Honda NSR 125 >>>> Suzuki GSXR 600 K1 >>>> Suzuki GSXR 600 K4 >>>>Kawasaki Z1000 DAF >>>>Suzuki RMZ 250 >>>> Current >>>> KTM Superduke R 1290 >>>> |
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Itchy |
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Itchy Super Spammer
Joined: 07 Apr 2005 Karma :
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True Blue |
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True Blue World Chat Champion
Joined: 10 Feb 2003 Karma :
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Itchy |
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Itchy Super Spammer
Joined: 07 Apr 2005 Karma :
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Posted: 20:45 - 14 Jun 2006 Post subject: |
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its called not telling the revenue , which is unrealistic anyway , imagine if everybody had to account for everything , the revenue would be in more of a mess than it is now. ____________________ Spain 2008France 2007Big one 2009 We all die. The goal isn't to live forever, the goal is to create something that will. In the end, your life will flash before your eyes. Make sure it is worth watching. |
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cagiva gezzer |
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cagiva gezzer World Chat Champion
Joined: 17 Mar 2003 Karma :
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Old Thread Alert!
The last post was made 17 years, 321 days ago. Instead of replying here, would creating a new thread be more useful? |
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