CHIMAERA as a company car

[Matt99man]

Does anyone have one?
Would the new tax rates in April push my tax or would it have no effect
i think its based on emissions

any advice would be welcome

thanks
MAtt

[jimmy]

Matt, its based on emmisions (of which the Co2 figure for a chimp would be high), also based on bus. mileage you do, cheapest tax goes to drivers who do under 2500 miles now, where as it used to be the other way round..

there are some good tax calculaters out there on the web for the new tax system, try these and it should tell you how much tax you will pay per annum for the car.

www.mcbrides.co.uk/carcalc/
also try www.arvalphh.co.uk

hope this helps

James

[fish]

The Chimaera isn't in the Govt list of Co2 emissions. You are therefore likely to have to use the engine size, thus over 2l will be 35% benefit in kind which is calculated on list price from new, the multipy by your tax rate. ie. higher rate payer 40%.

Assuming £23k list and higher rate payer that would cost;

23,000 x 35% = £8,050 @ 40% = You pay £3,220 pa or £268 per month.

Hope that helps. (Don't forget fuel benefit if you get that free and the rate does drop by 3% if your car was registered pre 1 jan 98 )

[pbrettle]

Company car tax - maybe what you can do is remove the 4.0l engine and drop in a 2.5VM diesel Just like many a farmer has done to their old Range Rovers... improved fuel economy and lower emissions.... That would make it easier on the wallet.

Then again, maybe not...

Cheers,

Paul

[Graham]

dont forget the tax is calculated from the original retail price when new not the price you paid for it.

so your working from a price of 35% of 35k....


My chimaera is currently a company car. and the tax isnt too bad. im in the middle milage bracket and the car is over 4 years old so its about 6k off my tax allowance. ( using two tax allowances and just staying under the 40% tax ( i dont get personal fuel )
its been worth if for the last few year but im selling the car to myself at the end of march, as its then too much on a 6 year old car.... although putting the maint through the books has been handy..

If its not your own company ( i.e. you not actualy spending your own profit to buy the car) it might be worth it but other wise probably not...

although having said that and putting the figures through the tax calculator im going to talk to my accountant again...



G

[s2ooz]

look: if your jammy enough to blag a TVR for a company car and not have to pay for the maint, insurance and tyres yourself, pay all the tax you like! its still cheap!!

you lucky bugger!

[Roadrunner]

Just a thought - has anyone out there ever looked into renting a tvr instead of buying? I wonder if this would work out cheaper / less hassle. No having to worry about breakdowns or big charges, insurance etc. It might even be worth it , even if it costs more - just to avoid hassles, and upgrade it every so often etc.

Only thought about this the other day as two mates of mine are sharing a performance car for use at weekends / trackdays.

?

[matt99man]

thanks guys
The reason why im changing my car is because i have a Range Rover and the tax is going to be too high as a company car.
Im going to buy the RR myself, £28000, Try find a good M/N Chim. Other wise i would of had a newer one

Matt

[darrenlens]

Roadrunner, I got a quote from Lex vehicle leasing for a Cerby and they wanted £1050 a month (with full maint)so I don't think I'll be doing that yet then.