Hello,
I am new to Contracting after leaving 21 years of full time employed work. I have also just signed up with an Umbrella company.
The distance to work from my house is over 250 miles one way,I will working 5 days a week and want to go home most weekends (leave Friday evenings returning Sunday evenings). I can claim mileage paid @ 45p a mile for the first 10,000 miles.
However, I have an old car that need some money spending on it, ideally I would like to change this.
I would like help with some of the following options,which will get me the most money, the pro and cons, any other options and anything else to consider etc.
I will be able to provide receipts for all the options. Apologies if some of this information is incorrect.
1. Keep car and make the 500 mile journey at the weekends and get reimbursed - £225.00 (total 11 hours of driving there and back).
2. Go on the train, claim taxi fare to the station and then taxi from train station to home and vice versa, approx cost £130 to £160 (approx 9 hours time - there and back)
3. Get a taxi to the airport, fly, get another taxi from the airport to my home and vice versa, approx cost £160 to £250 (will take approx 4 hours there and back)
4. Get a car on 6 month hire purchase, say at £400 per month, claim 5/7 amount back and claim mileage as no.1 above.
5. Buy another car, will cost around £5000, I pay for this out of my own pocket and claim mileage like no.1 above
5.Get car rental - not sure about this option.
Any more options???
All advice is greatly appreciated.
Thanks
Niaz
I am new to Contracting after leaving 21 years of full time employed work. I have also just signed up with an Umbrella company.
The distance to work from my house is over 250 miles one way,I will working 5 days a week and want to go home most weekends (leave Friday evenings returning Sunday evenings). I can claim mileage paid @ 45p a mile for the first 10,000 miles.
However, I have an old car that need some money spending on it, ideally I would like to change this.
I would like help with some of the following options,which will get me the most money, the pro and cons, any other options and anything else to consider etc.
I will be able to provide receipts for all the options. Apologies if some of this information is incorrect.
1. Keep car and make the 500 mile journey at the weekends and get reimbursed - £225.00 (total 11 hours of driving there and back).
2. Go on the train, claim taxi fare to the station and then taxi from train station to home and vice versa, approx cost £130 to £160 (approx 9 hours time - there and back)
3. Get a taxi to the airport, fly, get another taxi from the airport to my home and vice versa, approx cost £160 to £250 (will take approx 4 hours there and back)
4. Get a car on 6 month hire purchase, say at £400 per month, claim 5/7 amount back and claim mileage as no.1 above.
5. Buy another car, will cost around £5000, I pay for this out of my own pocket and claim mileage like no.1 above
5.Get car rental - not sure about this option.
Any more options???
All advice is greatly appreciated.
Thanks
Niaz
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