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Company Car Schemes? - Guy Lacey aka S3 Geek
Close to accepting a new job in sunny Portsmouth.

It has a company car scheme so the beloved yet troublesome S3 is to go.

The scheme has three options;

1. Standard company car scheme.
2. Monthly cash but taxable sum to fund your own vehicle with business mileage paid.
3. Option of a personal lease contract with purchase option.

I'm very green to all this. What are the pro's and con's? What about the tax implications?

Is there a FAQ to the company car subject?

Sorry about all the questions!

Ta very much.

Guy
Company Car Schemes? - Guy Lacey aka S3 Geek
...and more importantly, what is Pompey actually like?

Where to live?

Ta

GL
Company Car Schemes? - NARU
I was offered a personal lease at one company - it was a brilliant scheme, as it avoided the company car tax bill, but cost much the same each month as the standard company car. Definately worth reading up on the precise terms.
Company Car Schemes? - Vin {P}
...and more importantly, what is Pompey actually like?
Where to live?


I'm a bit of an expert on this, as I went through five months of looking in the area about five years ago.

Portsmouth. Full of awful housing, max height above sea level = 12 ft (truly) so don't expect any help from gravity if you ever need to bump start. My wife cried when we went to Portsmouth to look at houses. (previous two causes = death of mother and sale of her most beloved motorbike, twice in ten years).

Southport is a mile down the road, full of MASSIVE houses with 15ft-20ft (literally) back gardens, many converted into flats. Terrific nightlife for people in their 20s. Most of my company's clerical staff live there and love it - not sure how it is if you're past your 30th birthday.

Plenty of nice places round and about; nicest (and most expensive) is Petersfield, followed by Chichester.

I live in Southampton, which I really do rate as the best city I have ever lived in (previous = Sheffield, Manchester, London, Preston, Cambridge). However, you'll find that anyone in Portsmouth you ask will tell you it's the world's biggest dump (long term rivalry, though the hatred seems only to flow one way).

If you want any more info, drop me an email (in my profile), I'll give you my phone number and if you give me a call, I'll happily expand on all this.

V

Company Car Schemes? - Guy Lacey aka S3 Geek
I'm 29 yrs and 9 months old so just about scrape into the "20's" category!!!

Thanks for the info' V and I'll definitely be in contact for some advice.

I put a search into t'internet for a 2-bed flat in Portsmouth and it came back with a 1.25r million pound flat in Gunwharf Quays. A little out of my price range....., by a grand or two!
Company Car Schemes? - Citroënian {P}
Hi Guy,

Good to see you back on here!

IIRC there's nothing much around Portsmouth that could be regarded as a bargain, but I'd agree that Southsea is a nice place. Especially as it's handy for the hovercraft (although the trip is more fun than the destination!)

The car tax thing is a minefield - there's a FAQ on here www.honestjohn.co.uk/faq/faq.htm?id=21

but everytime I read this sort of thing, I feel like I'm chewing sawdust..!

Worth checking with colleagues at work? They might have already worked out the ad/disadvantages.

Good luck,
LeeH
--
Lee
MINI adventure in progress
Company Car Schemes? - Buster Cambelt
That would be Southsea?
Company Car Schemes? - Vin {P}
Did I really say Southport? Oh, dearie me. I did indeed mean Southsea.

V
Company Car Schemes? - LongDriver {P}
As long as the car allowance is good enough, I'd go for that, as long as they pay your business mileage.

Also, if they pay your business mileage at less than 40p per mile for the first 10,000 miles and less than 25p per mile thereafter, you can also claim tax relief on the difference. However, if they pay MORE than 40p/25p similarly, you will be liable for tax and NI on the additional amount.

For example, if I took a company car from my current employer, I would be able to have a taxed-at-list-price Mondeo LX and a big tax bill. Instead, the car allowance and tax relied I get, plus the lack of company car tax, plus the tax relief on business mileage, less a bit of tax as they pay my private fuel, gets me a £24000 Galaxy Ghia from a car supermarket (ie about £18500 purchase price) and pays for all of my maintenance, leaving me with something I want to drive!
Company Car Schemes? - hxj

The problem with deciding to opt in or out of a car scheme is that everyone's position is different as are their needs and desires, as are the schemes.

Generally opting in benefits those who fall in the following categories

Low overall mileage, low business mileage, high private mileage mileage, status cars, basic rate taxpayers (particularly those paying NI at above the 1% rate), high insurance risks.

Opting out benefits those with

High overall mileage, high business mileage, those who are happy with an older or lower status car, higher rate tax payers

There are plenty of sites that can do a detailed computation for you.
Company Car Schemes? - Mark (RLBS)
>>..and more importantly, what is Pompey actually like?

Crummy. However, try Park Gate, Locks Heath and Warsash and around that area for much cheaper housing and a not too bad commute to Portsmouth.

I lived in Southampton (Shirley, actually) and I agree its (Southampton, not Shirley) a pretty good place to live, but its a painful journey out of Southampton to Portsmouth in the rush hour.

I lived in Locks Heath for a fair while and loved the whole sailing, living by the seaside, etc. bit. Since I was the wet side of the M27 I could ignore the whole traffic thing most of the time since I spent most of my time sailing or windsurfing and the like.

However, traffic in the summer is nasty and its better if you live somewhere that you don't need to use the M27. The problem is that, as with many coastal areas, the sea gets in the way and there's pretty much only one way in or out of anywhere.




Company Car Schemes? - patently
the sea gets in the way


Gibbs Aquada, Mark?
Company Car Schemes? - Martin Sweeney
I work in West London, live on the south coast and have decided to continue with the company car scheme. I could get a higher spec motor with a private allowance but apart from the private fuel allowance (170 miles daily commute), it's the peace of mind from not having to worry about the numerous broken windscreens, dings and dents, new tyres (2 today) from a mobile kwik fitter and the numerous electrical faults which I find increasingly cropping up in most new cars. if you not doing big private miles opt out makes economic sense.


When I exhaustively researched my escape from London I found that both Portsmouth and Southampton were similarly grim and uninspiring and nothing I've seen since has changed my opinion. You might have a look at Emsworth just 10 miles east of Portsmouth; this is where I ended up. Pretty, some cracking pubs and nice coastal walks. Great place to bring up kids.

Mind you at your age, as mentioned above Southsea would probably be perfect with it's pubs, a mind boggling range of eastern eateries, rollerblading girls in hotpants and some really attractive housing. It's also got a very busy and intersting seascape if that's your bag. IMO if you're living on the coast you should really try to live within walking or cycling distance of the sea otherwise you might as well just commute down from London. don't think Gunwharf pads are in Southsea and unless your idea of a good night is Tiger Tiger and Hahas I would steer clear. I think 2-bedroom flats in Southsea more like 150,000-200,000. Petersfield is indeed very pleasant and well-pubbed. We could wave as we tear past each other on the A3.
Company Car Schemes? - Vin {P}
"I lived in Southampton (Shirley, actually) and I agree its (Southampton, not Shirley) a pretty good place to live, but its a painful journey out of Southampton to Portsmouth in the rush hour."

At the risk of getting personal, bucko, I happen to live in Shirley, and tha' knows nowt; it's lovely. Or at least my bit of it is. Janson Rd, if you know it. Testwood Audi was on the corner. (Motoring link)

However, I wouldn't want to live here and commute to Portsmouth, as I'm on the wrong side of the city. I manage on the days I do have to go there (about once a month) by going in time to arrive at the office at 7am. At that time, the M27 is fine.

The other side of the city would make a better choice, but check the trip to Portsmouth wherever you think might be OK. Mark's right; most places on the coast have one way in and out.

V
Company Car Schemes? - Mark (RLBS)
>>I happen to live in Shirley,

I know the Audi place. I enjoyed Shirley. A lot. I can\'t off-hand remember the name of the road/estate I lived in. It will come to me though. But my enjoyment was rather more due to the amount of pubs and my single status than the quality of the area.

However, I lived there in the late 80\'s. I\'m sure its a wonderful place these days.
Company Car Schemes? - Vin {P}
Mollified.

V
Company Car Schemes? - Mark (RLBS)
>>Mollified.

No, it was definitely in Shirley, I think Mollified is further north.
Company Car Schemes? - T Lucas
Flats in Gosport/Rowner from £15,000 and catch the ferry across the harbour to Portsmouth.You might have to invest in some body armour though.
Company Car Schemes? - PoloGirl
>>..and more importantly, what is Pompey actually like?


Chav city, full of people who speak with a weird mockney accent. (not that I can criticise, being from Basingstoke, the capital of London Overspill Not nice at all. Southsea is probably the best of a bad lot, but even that is really tacky. Mind you, I see this as an outsider, and I'm sure people who actually live there could tell you where the nice areas are - even Wolverhampton has some, but it's taken nearly 3 years to acclimatise myself enough to find them. Maybe the thing to do is rent for six months til you find your way around?
I lived in Southampton (Shirley, actually) and I agree its (Southampton,
not Shirley) a pretty good place to live,


I found out recently I was born in Shirley... decided to keep that one to myself once I saw what Shirley was like!
Company Car Schemes? - PoloGirl
>> I lived in Southampton (Shirley, actually) and I agree its
(Southampton,
>> not Shirley) a pretty good place to live,
I found out recently I was born in Shirley... decided to
keep that one to myself once I saw what Shirley was
like!


Sorry Vin... didn't see your post until after I'd slated where you live. I'm sure even Shirley has it's nice bits!

Company Car Schemes? - Vin {P}
"I'm sure even Shirley has it's nice bits! "

Hmmm, this thread is rapidly going downhill. I suggest the mods get it locked immediately before I get in a huff and start to throw my toys out of the pram.

V
Company Car Schemes? - Chris M
Can't help with company car schemes, but we moved out from London 5 years ago with my job. Had never been to Portsmouth area before so looking for a place to live was a case of pot luck. Ended up living mid way between Portsmouth and Petersfield (Petersfield is good for trains to London and hence pushes house prices up). Work at J9 of M27 - 18 miles takes 20 - 25 minutes. M27 is busiest eastbound in the morning and westbound from around J7, so I use the least congested bit. I reseached journey to work before looking at possible areas to live. Will you be actually working in Portsmouth? It's an island with only 3 roads in and out and therefore can be bad.

What are your other considerations? Schools (they were for us), public transport? Countryside? Sea? Shops (Portsmouth is diabolical if you are used to Lakeside or Bluewater)?

Happy to give more help offline if you require. I assume moderators can supply my e-mail address (or is there a way to find it anyway?)

Chris M
Company Car Schemes? - Pezzer
For one moment I thought you were coming to work at the same place as me but we dont have option 3. I moved down from south London 10 years ago or so and dont regret it for a moment.
Like others have said it depends on what stage you are at in your life: Young free and single then Southsea has a lot going for it, Clubs, Bars easy movement without the need to drive everywhere and much rental property. If you are settling down then there are many nice places within an 10-15 mile radius of Portsmouth.(Will you be located actually in Portsmouth or in the outskirts as this will make a difference to the commute ?)
Emsworth/Chichester to the East, Clanfield/Horndean/Petersfield to the North and to the West (where I live) Park Gate/Locks Heath/Warsash as well as Wickham or Bishops Waltham.

As for the company car it was a no brainer for me, it is purely a perk but none the less I value the peace of mind of not having to worry about anything going wrong, servicing, insurance etc etc. I still get a kick when the tax disk turns up in the post! Being a PAYE employee personal leasing/contract hire didnt seem to save me anything unless I did below ave mileage and wasnt fussy about what I wanted. I think depending on your circumstances and mileage the cash option and private purchase can work out the best financially but as I already said I value the peace of mind/easy life !

Pezzer
Company Car Schemes? - Vin {P}
Pezzer, I had exactly the same thought. Do you work for a major computer hardware manufacturer?

If so, we could have a mini backroom meet.

V
Company Car Schemes? - Pezzer
Vin, yes its big and its blue and they sell good coffee now - Why not ! Personal e-mail is in my profile we can exchange sametime ids.

P
Company Car Schemes? - Guy Lacey aka S3 Geek
Thanks so much for the info'!

I'm young, free and (mostly) single. No kids. School is not on the list of requirements just yet! I'm 29 and like the idea of living in a city but after spending 4 years in Docklands, I don't want to live somewhere too dodgy. Southsea sounds great but the parking looks like a nightmare. Would really like off-street parking.

I'm not in PC hardware etc so can safely say I'm not working for the big PC outfits down there! The site I'm at is located just off the main M27 junction at Hilsea. can't give too much away at the moment!

I think I'll go for the personal purchase scheme and get a 5-dr Golf GT-TDI Anniversary. For those who don't know me - I've always had a love affair with Golfs! I expect to be a high personal mileage but low business mileage 40% tax rate driver with business mileage only being paid.

It's all too much!

What about a village/town between Soton and Pompey?

Oh, and Pologirl, I LOVE Basingstoke! Met a lovely girl from there once. Had some great nights in Bud's Bar! But it *is* full of chavs....
Company Car Schemes? - PoloGirl
Oh, and Pologirl, I LOVE Basingstoke! Met a lovely girl from
there once. Had some great nights in Bud's Bar! But it
*is* full of chavs....


Ahem...I actually meant Portsmouth was full of chavs! :)

Blimey...if you're drinking in Bud's bar what do you expect?! You're lucky to have got out alive. That said, I moved away over three years ago now and it has gone very very towny since they put all the new bits in. But it's home and the right people are all there for me.

If you're working near to the M27 you could easily live in or near Basingstoke actually (at the nicer Kempshott/Dummer end, near to the M3 junction). Bloke I live with used to work in Eastleigh and did Basingstoke to his shop in the centre in less than half an hour each morning (I think) in rush hour, in a Golf Tdi as it happens. Mind you, you'd need to be going into a fantastically well paid job to be able to afford even a one bedroom shed in Basingstoke, which kind of explains why I'm still stuck up here.