Question to Company Car drivers

[Eggtastico]

How do you sort of the payments for charging your car at home?
Especially if you have 'fuel benefit' as well.

Is it put through your company as a contribution & bringing down your BIK payments?

Or do you use the Advisory Fuel rates, where you pay for all the fuel & the company reimburse you the current rate per mile (currently 16p)?
http://www.hmrc.gov.uk/cars/fuel_company_cars.htm

Or some other way.....

 

[maddogsetc]

Reading your other post I assume that the 'employer' will be your own business? That being the case and looking at your mileage it will make no sense for the company to provide free private fuel.

Assuming you go down this route you can simply charge your business miles to the company at the HMRC mileage rate for company cars: http://www.hmrc.gov.uk/cars/advisory_fuel_current.htm

HTH

 

[Eggtastico]

Yes, that is my plan... as I use a personal car at the moment, so will be losing the 40p/25p for the 16p

However, I was just curious for other company car drivers in how it works out, since they pay for the electricity at home.

Also interested to see if I can offset it against the BIK, but I guess thats something for my accountant to scratch his head about.

 

[Stu]

I currently use the company to pay all my fuel and I then reimburse the private miles. This works well as the advisory rate is lower than the actual ppm rate of the car, so the company takes a small hit on my private miles. I pay 18p per mile but the actual cost is about 20p.

With the Outlander I'm going to pay all the fuel and have the company reimburse me for the business miles. This makes the most sense as HMRC class hybrids as petrol or diesel, so if I continue as before then I'd need to pay 16p per mile back to the company even if the private miles were done purely on electric, so I'd get stung for miles that could potentially be free.

I didn't bother investigating if it was worth trying to offset the cost of charging at home as the amounts would surely be so small as to be not worth the hassle. Pleased to be corrected though.

 

[Sharky]

Currently paying about £170 a month in tax for having the company pay all my fuel. This works out just about even on private miles, but with the PHEV this will be reduced to £45 and with my personal miles I will be much better off. As for claiming my electric back, I am unsure what will happen. I am hoping when my charge point is installed, I will be able to monitor what I have used (chargemaster) and claim it back!

 

[DrSlackBladder]

I'm now set up to submit the full charging costs as a monthly expense for reimbursement (business and personal miles). Any petrol costs will be paid on the company card as they are now for my BMW. Our expenses software has just been updated to include a line item for "EV Charging", so each month I'll visit the ChargeVision site to print off the spreadsheet with my months charges, add a copy of my kWh rate from BG, and claim the costs back.

 

[byrnehj]

@ DrSlackB - yes I am in same position, and will be doing the same (itemising cost thru ChargeMaster and letting my company reimburse me)

 

[maby]

I anticipate charging all miles at standard HMRC petrol rates - it's just too complicated breaking it down to miles covered on petrol and miles covered on electric. But, on the other hand, my company mileage is vanishingly small, so I really am not too concerned with the fine detail - just keep it simple. The company is ours, so this is just a cheap way of buying a new car - when the BIK begins to ramp up in a few years, we'll sell the car to ourselves.