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535i Andrew

Fuel Cards - employer provided for your BMW

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I'm debating a change of employer.

 

My prospective employer has offered me a car allowance and a fuel card.  Car allowance means I must have a car available for business use.  No problem there with the F10.  

 

The fuel card is to pay for fuel for my personal BMW for all mileage I do provate and company except mileage I do on holiday.

 

I currently do 6k miles a year.

 

With this new job, that mileage lets say will be 12k miles put on the F10.

 

Is it worth my while taking a fuel card?

 

A quick google only throws up different companies offering their fuel cards and I can't find anything on their pros and cons.  Anyone got experience of using a fuel card on their own personal car?

 

Thanks

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Yeah but I don't know what that will be based on.

 

Is it a lump sum a year or based on how much fuel I spend on it. 

 

If I rack up £2k fuel bills a year am I taxed on that £2k?

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When i had a card a long time ago I think i looked at is as even if i was taxed at 99% on my private fuel i was still saving 1%

 

I suppose the question is whether you're better off taking the 45p/ mile business allowance to cover the fuel for private use?

 

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Are fuel cards not usually a set amount every month? I know my misses has one. But she has a company car but is allowed to use it as a private car for personal milage. Her company owns the car, She has to pay emissions tax and £60 a month on the fuel card. No one ever asks to account for the personal or company milage. In theory that's pretty impossible. It's great when I travel to the family home in Inverness! 

 

She is currently doing around 25k a year to! 

 

Edited by WickRatson

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I would take the fuel card based upon previous experience. It means your not shelling out for fuel and claiming it back on expenses each month, you will have to pay a fixed pence per mile for private mileage based on government rates / engine size. You can sit in traffic, have your AC on max, burring fuel on a personal journey but only pay back the miles traveled. This was a few years ago but I'm guessing it's probably the same system.

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That's not been offered in the info I have in the job offer but maybe in the small print which I've not seen.

 

I think the jist is, "here is £XXX per month for you to run a car and have it available for work and here is a fuel card to run it on so don't claim any expenses...."

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I get a 10k a year car allowance, and a fuel card which I average approx 7k a year of fuel on. When you get your P11d, you claim your business miles back 45/20 I think currently. 10k car allowance is taxed as part of income.

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Not sure that calculator included the tax relief that Tom is talking about claiming. You'll need decent records of your business miles but worth checking if you are doing significant mileage. 

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16 hours ago, 535i Andrew said:

 

I think the jist is, "here is £XXX per month for you to run a car and have it available for work and here is a fuel card to run it on so don't claim any expenses...."

So if you're out and about on a long day do they expect you to take sandwiches and a thermos? You can always claim back expenses incurred via tax return if not but its probably not the opening conversation you want with a new employer. 

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On 7/12/2018 at 4:18 PM, 535i Andrew said:

I'm debating a change of employer.

 

I'm no longer debating a change, I'm staying put. Their offer fell short in other areas.

 

Thanks for the advice guys. 

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