sti-04!!

Looking at chopping in my ML for the GL & was wanting some questions answered if someone can help.

I get a car allowance from work as i opted out of the company car scheme.
Now i lease my ML at the moment but the leasing company wont charge me any penaltys if i change to the GL.

Questions i have are;

Since i am being taxed already on the car allowance through my salary is there anyway i can claim the vat back as its a personal lease ?

Reference VAT again, say i put it through my company, what if any liability would there towards both the company & myself ??

Thanks in advance.

Sti

gazza-uk

Sorry to Hijack your thread

Do you have a company fuel card, if so do you claim back tax relief on any business mileage you do ??

sti-04!!

No i dont have a fuel card, i just claim the business mileage. Rate is 40p per mile due to the vehicle being over 2500cc.

Mo_Patrick

Cant comment on the VAT issue and i never found anyway of claiming back tax on car costs when i was on a car allowance.

But i was going to say you could claim tax relief of the difference between what you are paid per mile and 40p upto 10000 miles on buisness miles only (ie not to a permanent place of work), but as you are paid 40per mile anyway then you cant.

You may in actual fact have to pay extra tax on anything over 10000 miles as the rate drops to 28p (i think) after 10000 miles

TheVoices

iTrader: (5)

As far as I know a personal lease doesn't have any VAT to claim back ? Lease companies tend to quote a pre VAT price because they are so used to dealing with businesses. When we do personal contract hire quotes (same as personal lease I think) we just show a total price, no VAT breakdown.