BobEngineer said:
jcandmorag said:
Is it a global German company you work for per chance?
I may have received the same e-mail...
Ja!
How do you feel about it?
I'm not sure yet as I don't get the car till July 6th but how will it work? Not everywhere takes stupid Amex for one.
Policy states you don't need to use your company Amex (and yes it is a stupid card generally, probably fine in 'corporate world') you can use your own.
Actually apart from the odd rural station most petrol stations take Amex no problems.
In fact I will be taking out my own Amex for fuel only, you can get a Platinum Cashback Everyday
Credit Card for no fee and it will pay you back 0.5% to 1.5% cashback, over several thousand pounds of spend it can build up to a nice little bonus.
https://www.americanexpress.com/uk/content/platinum-cashback-everyday-credit-card/
We have to claim back fuel via clic n claim, will that be business miles or just standard claim for fuel?
We used to use click/claim before the fuel card portal arrived so it already has the function.
It will works like this:
As often as you like but maybe say once a month you will open a new claim.
On the first page there is an option to select your vehicle group (so 1.5-2.0L petrol for PHEV)
That tells it what rate you will get paid.
You then just put on each line the same info you currently put in the fuelcard portal so business trips only by date, trip details and miles. Click/claim will multiply your miles on each line by the rate (13p currently).
Submit and you will be paid the money by BACS as usual.
The office won't even install a charge point at our office as this will be seen as BIK.
That is down to HMRC sadly. Daft as its not very Eco is it?
How far is the office? if its a regular place of work I assume that's private mileage so
if its not too far you could do well from your PHEV as cheap short private mileage trips are 'its party trick'
I work for renewables, so much for saving the planet! I was lucky tho, I got the charge point installed at my house before the government grant fell, they won't reimburse the electric charging so... If I drive business miles and the car uses elec, how do I work this out if they don't pay for elec????
I know you windmill guys even dream of electricity but you need to not think of it as electricity your putting in but as cheaper petrol, then it makes more sense.
So, you put petrol and electricity in, you pay for both, you run around privately and for business and for the business miles the company gives you 13p how does that work out?
Well if overnight you put in £1.00 of electricity and it gets you 20 miles (realistically) then if you think of it as fuel rather than electricity its costing you 5p a mile.
The company will give you 13p a mile so for the first 20 miles its cost you £1 and you are getting back £2.60 so you made a £1.60 profit!
But suppose your doing a 40 mile trip today, you do 20 miles on battery then the other 20 miles using petrol at 35mpg (which is achievable as its not driving like granny or thrashing it)
Petrol is about £5.33 a gallon so at 35mpg costs £0.15 per mile (oh oh losing money!)
Your cost
Electric cost 20 x £0.05 = £1.00
Petrol cost 20 x £0.15 = £3.00
total £4.00
Company pays you
40 x £0.13 = £5.20
Hooray you made £1.20 profit today. But as you can see, the longer the trip, or the heavier your foot or the more expensive your electricity tariff and its likely your could end up making a loss on longer journeys.
It depends on your balance of trips, some days you might win a bit, some you may lose which is how its likely to average out for me.
Also remember all that local running around we all do.. those private miles can tot up during the month but usually they are within battery range so its only costing you personally 5p a mile instead of maybe 12p to 20p in a normal car.
Final thing, the HMRC rate went to 14p in June (its adjusted regularly by the HMRC to track petrol prices) but our rate is currently still at last months 13p, I hope the company are not going to drag its feet about keeping the rates up to date as that would be simply unfair, knowing them I am not holding my breath on that one!
Anything else let me know, enjoy your car!!
:evil:
