Company car allowance

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Newneg789

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Joined: Sun Jul 14, 2019 1:43 pm

Post by Newneg789 » Wed Dec 30, 2020 7:51 pm
Good evening.

I have an IVA with Mccambridge Duffy and I have just changed jobs to one that has a car allowance. I am using our family car and my wife has been given my dads old car (retired from driving). My wife doesn’t work and due to me
travelling some 35-40k per annum we need two cars. Plus I’m away sometimes (post/pre Covid-19). I travel all over the south.

The allowance I’m paid is to cover running costs etc and purchasing/depreciation, I normally service twice a year and tyres all round twice. Fuel I get reimbursed obviously at 20p per mile. (Nonprofit)

Will they wish to take some of this allowance? Obviously at some point my car will need replacing too and I will need to save for this as I can’t get credit. Can anyone shed any light here.

Many thanks and keep safe.

Neg.

Foggy

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Post by Foggy » Wed Dec 30, 2020 8:07 pm
I would imagine that they will ignore the travel allowance, but not then allow expenses in your I&E in regards to your car. You would need to negotiate regarding the second car as this is an addition --- they might simply allow previous allowances to continue for this vehicle, if you are lucky.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Newneg789

Posts: 3
Joined: Sun Jul 14, 2019 1:43 pm

Post by Newneg789 » Wed Dec 30, 2020 8:14 pm
Thank you.

My wife’s car has always been within my I&E and completely agree about having my expenses for the work car being excluded for it as that is the idea of the allowance. That would be fair enough really.

Thanks for taking the time to reply Happy New Year.

Foggy

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Posts: 31838
Joined: Fri Dec 17, 2010 11:14 am
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Post by Foggy » Wed Dec 30, 2020 8:43 pm
Thank you -- Happy New Year to you too -- let's hope it is a better one for everybody !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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