The Milk Float Thread

Yes?
Same cars just tax free. So the car allowance she gets should go over 40 percent further. More if you factor in NI.
I think…
Still a lease. Just you pay gross before tax.

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I thought those had been canned or were frowned upon now

We had that scheme at Cable & Wireless in 2010 but was binned after HMRC got very upset.

Is she still declaring a company car and having the BIK deducted from the tax code?

Personally I’d avoid like the plague now but I’d recommend speaking to a tax accountant before proceeding with one of those schemes

Looks like it changed in 2017

2017 tax changes

Prior to 2017 a salary sacrifice car scheme carried the same tax advantages as other salary sacrifice schemes however, since April 2017 the employee is now required to pay income tax on either the value of the car or the amount of salary sacrificed.
Any salary sacrifice car agreement which precedes the change in tax rules remains exempt from income tax until 2021.
There is often confusion surrounding this and many believe that 2021 signifies the death of salary sacrifice car schemes – which is not the case.

So the plebs lose (most/much of) the tax benefit but that’s not the end of the scheme :man_facepalming:

I wonder if there is a corresponding drop in new car sales from around that date?

Not for electric cars specifically.

Yeah they’re useless for most cars but EVs have a really low taxable rate.

In practice, my employer’s scheme was not very good value - despite the huge tax benefit, the provider must have had a huge margin. Cars often were more expensive than I could lease privately. OK it included insurance and maintenance, but given the tax position that’s a whopping margin.

Salary sac schemes vary wildly from employer to employer. Consider them carefully and check the effects on your pension contributions down the line.

Been looking at exactly this to try and get my lot to bring it in (not helped by the fact that the standard terms for teachers don’t allow it). For LGPS schemes you reduce your pension, but my calcs were that buying back additional pension to replace it actually cost less than the reduced ees/ers from the sacrifice.

My worry is HMRC’s ability to change the rules and retrospectively apply them.

It’s done very very rarely but it’s still something to be remembered.

My rule of thumb is that if something will benefit me rather than HMRC they will change/stop it.

RIP

disappointing, they had the nicest looking, if most spendy, charger. And the only one which hid its cable when not in use.

It does actually look like it has been designed, rather than drawn by a 3 year old with a crayon (yes Zappi that is aimed at you)

Polestar 3 launched, deliveries in 12 months, from about £85k, almost exact size as Audi e-tron

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Ha, was just looking at that. Starts at £80k I configured one to £87k.

Pricey but nice.

Its very very nice, or so i am reliably informed by Mrs SJS :grinning:

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Uh oh! :slight_smile:

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If the mutts can both fit in the boot then that’s the next car.

Hopefully it will inspire yet more SUV rage as the cherry on the top too :wink:

Its worse than that, the etron will be 4.5 years of age by the time these appear… :sweat_smile:

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It’s a lovely thing indeed, but they seem to have downgraded the performance from the Polestar 2 ?

One’s a saloon and one’s an SUV. But the 0-60 times look good. And the range on this SUV is excellent.