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Alternative to a company car

  • 07-06-2019 3:57pm
    #1
    Ascii
    Registered Users, Registered Users 2 Posts: 387 ✭✭


    Am currently using my own car for work and get civil service rate of mileage. It may be an option in the near future for me to move to a company car, however my mileage is relatively low approx 6-10k business KM's per year. I would end up being in the 30% bracket…at a stretch I might make it into the 24%.
    I have no issue using my own car. I am not really into having a brand new company car just for show. Been talking to a few reps lately who are making the move from company cars back to their own vehicle. They reckon the higher rate of BIK is a killer.
    Bit of a long shot but my question is does anyone have an arrangement where their company has made it more of an incentive for using you own car by making a one off donation towards the purchase of your own car or a have a situation where you have a company fuel card while still claiming mileage.
    Thanks


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    Ascii wrote: »
    Am currently using my own car for work and get civil service rate of mileage. It may be an option in the near future for me to move to a company car, however my mileage is relatively low approx 6-10k business KM's per year. I would end up being in the 30% bracket…at a stretch I might make it into the 24%.
    I have no issue using my own car. I am not really into having a brand new company car just for show. Been talking to a few reps lately who are making the move from company cars back to their own vehicle. They reckon the higher rate of BIK is a killer.
    Bit of a long shot but my question is does anyone have an arrangement where their company has made it more of an incentive for using you own car by making a one off donation towards the purchase of your own car or a have a situation where you have a company fuel card while still claiming mileage.
    Thanks

    Either situation wouldn't work. The lump sum to buy your own car word be caught as a BIK and the you can't claim an expense you didn't incur.


  • #3
    colm_c
    Registered Users, Registered Users 2 Posts: 2,032 ✭✭✭colm_c


    What about an electric car (under the 50k mark).

    I don't believe it would have any bik.

    And with your low mileage, it might suit.


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