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company car help

Discussion in 'Motors' started by jimblowscash, 8 Sep 2010.

  1. Will Gill

    Don

    Joined: 18 Oct 2002

    Posts: 56,211

    Location: Cornwall & Sail.Number: GBR 3936

    I hear where you are coming from, but I still re-read the OP and wince at the potential bum shafting he could get. Maybe I should look into the ECOS thing I quite fancy a car to use abuse and not care about, all the company cars I can get would bore me to tears and turn me into every other drone on the roads
     
  2. Axeboy

    Mobster

    Joined: 13 Nov 2002

    Posts: 4,767

    Location: Scotland

    Aye, I agree, it does read very *****.... but it may be the lack of info at this stage

    I think!

    But dont hold me to it :)
     
  3. johnny6

    Wise Guy

    Joined: 14 Apr 2006

    Posts: 2,170

    To be fair I thought ECO schemes were on the decline. Salary Sacrifice is the future.
     
  4. jimblowscash

    Wise Guy

    Joined: 18 Apr 2006

    Posts: 1,174

    Location: london

    wow guys thanks for the reply's, im still reading into it but untill i have the proper information over from them i cant be sure... i just got this mail from them

    "I’m new to this scheme myself, so I’ll give you the explanation as I understand it.

    You would be provided with a company car to do your job. We’re relaxed about the vehicle type, but normally work on a crude monthly lease cost basis. Some car users here chose to top the amount up to get a more expensive car, but that’s down to choice. A mid range Golf or Audi A3 or similar is what we have had in the fleet with no additional personal funding.

    All the normal costs would be met, eg lease cost, maintenance, road tax and business fuel. Normally this would be a benefit in kind and would affect your tax coding. There are however, a number of schemes which offer a work around. We employ one of them, which reduces the taxation cost in your hands towards zero, whilst being legitimate for us to offer to you. I can get you more details when we are further down the line, but that’s the effect of it. "

    at the end of the day i want to make sure im coverd, and god forbid if anything should happen to them or me i.e. i leave im not landed with the remainder of the lease...
     
  5. jimblowscash

    Wise Guy

    Joined: 18 Apr 2006

    Posts: 1,174

    Location: london

    kinda.. i havent had a company car for over 4 years, It has all changed sinse i last had one, so my appoligies if it reads " ***** " but I dont understand the sceme and havent had the relevent info from the employer as yet
     
  6. johnny6

    Wise Guy

    Joined: 14 Apr 2006

    Posts: 2,170

    Sounds like you have a couple of schemes at this new place. I would question however what your liability is if you leave etc.
     
  7. Will Gill

    Don

    Joined: 18 Oct 2002

    Posts: 56,211

    Location: Cornwall & Sail.Number: GBR 3936

    I agree with this

    although the second communication from your new employer makes things sound much more appealing than the initial one!
     
  8. jimblowscash

    Wise Guy

    Joined: 18 Apr 2006

    Posts: 1,174

    Location: london

    yes hopefully, so long as im not lumberd with the car if i leave them thats all im worried about, I allready have a car of my own and will continue to own my own car regardless of company cars.