Quote:
Originally Posted by Andy3661
Wow, I just opted out of the company car scheme, what a rip off and government hammer you in tax.
Had a 520d M Sport Auto and opted out of a fuel card sometime ago. Fuel card instantly saved me around £200 a month in additional tax and about the same again in tax when I opted out of the company car.
I now get 40p per mile for first 10k and then 25p per mile thereafter but was getting 11p per mile with company car!
With my monthly car allowance, less tax and increased fuel cost per mile I am far better off than I was before.
Pulled on over 1k in fuel alone last month but that's banked now for service, tyres etc.
If you have the option, opt out.
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It depends on how many miles you do. From April the 330e will only be 12% BIK, compared to 30%+ for a normal diesel or petrol (e.g. 520d). So I'll be paying about £170/month in BIK tax. The actual lease costs about £350 (My 330e was about £45k with various options). So for £520/month I've got a fully maintained car on a 25k miles/year term. I very much doubt you could get that privately for the same outlay.
It definitely doesn't make sense to get a normal petrol or diesel company car though. A 520d would probably cost you more like £750/month as BIK will be £400 of that.