Claiming millage vs company

bazelbrush

Hello All ,

Hoping to get some advice here on what makes the most financial sense to do.

In my current job I have recently been given the opportunity to get a company Van , this would included all running cost , tax , insurance , fuel and any maintenance needed.

However I also have the option to buy my own car and claim millage. This is generally between e800 - e1400 P/M (tax free) depending on the amount of millage I do. Approx 40k km per annum.
I would need to factor in all running costs to this and the purchase of a new / newish car.

I am 25 so insurance isn't the cheapest, generally around e1k.

What is the best option here company car or claim millage ?

Thanks

micks

bazelbrush wrote: »

Hello All ,

Hoping to get some advice here on what makes the most financial sense to do.

In my current job I have recently been given the opportunity to get a company Van , this would included all running cost , tax , insurance , fuel and any maintenance needed.

However I also have the option to buy my own car and claim millage. This is generally between e800 - e1400 P/M (tax free) depending on the amount of millage I do. Approx 40k km per annum.
I would need to factor in all running costs to this and the purchase of a new / newish car.

I am 25 so insurance isn't the cheapest, generally around e1k.

What is the best option here company car or claim millage ?

Thanks

not sure what the best option is but make sure you're careful with insurance if using your own car for business

ted1

It’s not all tax free these days.
The more miles you do the smaller allowance.


https://www.revenue.ie/en/employing-people/employee-expenses/travel-and-subsistence/civil-service-rates.aspx