Help nhs car lease

[Nichola14]

Hi, I am just looking for some help. I have recently got the outlander phev last week through nhs fleet solutions, I chose this as it is meant to be better off financially in my wage.
As anybody got the same, what or how much do you benefit in your take home wage? It states on the Mitsubishi sight that you can save thousands in your wage over the lease time.
I had a Nissan Juke previously & this cost more than what the outlander phev is costing. Zany info would be appreciated.
Thanks Nic

 

[geoffshep69]

Hi, I am just looking for some help. I have recently got the outlander phev last week through nhs fleet solutions, I chose this as it is meant to be better off financially in my wage.
As anybody got the same, what or how much do you benefit in your take home wage? It states on the Mitsubishi sight that you can save thousands in your wage over the lease time.
I had a Nissan Juke previously & this cost more than what the outlander phev is costing. Zany info would be appreciated.
Thanks Nic

To calculate the tax you pay, you need to know the list price of your car (c. £39k depending on which model you have) and then work out 5% of this (so approximately £1950). This is the 'taxable benefit' which should appear in your tax coding. You then pay income tax on this, at your highest rate of income tax, so if you are a higher rate tax payer then the tax cost will be £1950 x 5% x 40%, which is about £780 per year, or £65 per month. This will clearly be less if you are a basic rate taxpayer. The tax you save in comparison to the Juke should be significant, but you need to check the taxable benefit in kind figure on your P11D or tax coding notice to work out how much tax you are paying on the Juke.

You also need to factor in the actual lease cost to calculalte your overall saving, but you'll need to know the monthly lease cost for both cars to calculate this.

For me, my current Qashqai is about £50 cheaper per month to lease, but the benefit in kind is about £150 more than the PHEV which I have ordered, so the overall net monthly saving to me is about £100. That's obviously before you factor in any savings in terms of petrol, etc.

 

[slowrunner]

Hi Nic,
I used http://comcar.co.uk/newcar/companycar/taxcalc/

I found it very helpful - can also calculate the fuel card benefit.

One other tip - check with your HR dept that they have informed HMRC about the change. Otherwise you might be lending your savings tax free to the government for a while !

 

[Barnfather]

Hi, I am just looking for some help. I have recently got the outlander phev last week through nhs fleet solutions, I chose this as it is meant to be better off financially in my wage.
As anybody got the same, what or how much do you benefit in your take home wage? It states on the Mitsubishi sight that you can save thousands in your wage over the lease time.
I had a Nissan Juke previously & this cost more than what the outlander phev is costing. Zany info would be appreciated.
Thanks Nic

To calculate the tax you pay, you need to know the list price of your car (c. £39k depending on which model you have) and then work out 5% of this (so approximately £1950). This is the 'taxable benefit' which should appear in your tax coding. You then pay income tax on this, at your highest rate of income tax, so if you are a higher rate tax payer then the tax cost will be £1950 x 5% x 40%, which is about £780 per year, or £65 per month. This will clearly be less if you are a basic rate taxpayer. The tax you save in comparison to the Juke should be significant, but you need to check the taxable benefit in kind figure on your P11D or tax coding notice to work out how much tax you are paying on the Juke.

You also need to factor in the actual lease cost to calculalte your overall saving, but you'll need to know the monthly lease cost for both cars to calculate this.

For me, my current Qashqai is about £50 cheaper per month to lease, but the benefit in kind is about £150 more than the PHEV which I have ordered, so the overall net monthly saving to me is about £100. That's obviously before you factor in any savings in terms of petrol, etc.

It's also worth remembering that BIK increases each year, and whilst will still be lower than the equivalent diesel each year, the higher list price of the Outlander may not make as much difference as you think over a 4yr contract IF you are not comparing with equivalent SUV's and once you factor in PUC.

For example, on my grade I could have something like a Mazda 6 2.2d with zero PUC, ditto a Quashqai. Over a 4yr contract the Outlander will actually work out a bit more expensive than either of those, as I need to pay a monthly PUC and the list price of both is substantially less than the £39k of the PHEV.

Having said that, I want the SUV form-factor and love the PHEV so I'm prepared for that. I just noticed some guys at work who drive Prius's and suchlike, who have placed orders for the Benz C-Class 350e on the justification that the BIK means they will be paying a lot less, which simply isn't true.

If you compare the Outlander to 'similar' heavy, expensive 4x4 SUV's with higher CO2 ratings, then yes it works out a lot cheaper, but I'd hazard a guess that most PHEV drivers will be moving to it from more modest company cars where it isn't such a simple comparison.

 

[Sharky]

It all depends on who is paying what, on how much you save.

My situation is that it is a company car and the company is paying the lease cost and all that I am paying is the tax on the benefit in kind (BIK).

My saving is based on what my last company car cost me in tax, this was a E250 merc estate with fuel about £470 a month. The PHEV with fuel till April 2016 is £80, next tax year this rises to £100. As you can see a significant saving/pay rise.

 

[Ratmos]

My wife has had a Mitsubishi PHEV for about a month now with a NHS trust based at a GP surgery and have done 2070 miles so far and we estimate that she has spent a maximum of £150 so far on petrol. The Podpoint S7 home charger based on only one charge from data from Podpoint used 9.1 Kwh. This equated to £0.17 for the charge on our economy 7 tariff. The worst case scenario for a week for electricity use is £20 based on all our tariffs. Previously my wife was spending about £65 every ten days on diesel. With current weather conditions we are getting an indicated 22 miles on a charge which in reality is probably less being that she leaves in the dark and returns in the dark plus the heater fan is bound to be on more. The reason for having a Mitsubishi PHEV is that she works in a very rural setting that involves some travel on farm tracks and also it becomes the vehicle of choice in heavy snow. Despite suggestions her GP does not see the benefit of providing any charging facility.

 

[greendwarf]

Despite suggestions her GP does not see the benefit of providing any charging facility.

Not even let her plug in an extension cable? I bet the staff charge up their mobile 'phones etc. on site

 

[Neverfuel]

My wife has had a Mitsubishi PHEV for about a month now with a NHS trust based at a GP surgery and have done 2070 miles so far and we estimate that she has spent a maximum of £150 so far on petrol. The Podpoint S7 home charger based on only one charge from data from Podpoint used 9.1 Kwh. This equated to £0.17 for the charge on our economy 7 tariff. The worst case scenario for a week for electricity use is £20 based on all our tariffs. Previously my wife was spending about £65 every ten days on diesel. With current weather conditions we are getting an indicated 22 miles on a charge which in reality is probably less being that she leaves in the dark and returns in the dark plus the heater fan is bound to be on more. The reason for having a Mitsubishi PHEV is that she works in a very rural setting that involves some travel on farm tracks and also it becomes the vehicle of choice in heavy snow. Despite suggestions her GP does not see the benefit of providing any charging facility.

I think you probably mean £20 per MONTH to charge up on Economy 7 not per WEEK!