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11-21-2007, 11:15 AM
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#20
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Moderator
Drives: .
Join Date: Aug 2007
Location: .
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Quote:
Originally Posted by needforspeed
Hmmn .. it seems that the best option would be to take cash in leiu of a company car. Then instead of having a fuel card, simply pay for all your petrol using your company credit card and have your personnel people declare the cost associated with personal mileage to the taxman as a benefit in kind.
That way you are reimbursed fully for your business miles and pay tax on your personal mileage at the prevailing rate.
For a 40% taxpayer this is equivalent to a 60% discount on the price at the pump.
Works for me  |
Works for me too....!!!!
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