Tesla Model 3 - V3.0

Petetheroadie

Kramer wrote: »

Not that I'm aware of & as it's selling so well & other EVs are moving well up in price (& still selling very well), I can't see many bargains appearing in the near future.

You can have mine, a year old SR+, barely driven in, low mileage.........good price :pac:.

Could you reclaim some VAT or expense it someway? Gain some tax credit of some kind, depending on your profession? I know an electrician in the UK uses one as his work vehicle.

How come you're getting rid of your Model 3 Kramer? Is it listed anywhere?

MightyMunster

Mikeysculpts wrote: »

Right. Model 3 is expensive. At least for a fool like me. Is there a way to nake the damn thing affordable?

I'm self employed and currently have no company car.

I know there is a grant and what not but in reality is it going to be a 50kcar no matter what? Or can it feep like spending 30k?

If it's a company car purchase you'll "save" around 25k in tax by buying from pre tax income

wassie

0lddog wrote: »

UK emergency services trying out M3

I'm sure there will be no shortage of coppers putting their hand up to be part of a trial.

Somehow I think any benefits would be eroded pretty quickly once a Police M3 is damaged in a pursuit and needs to go to the body shop....

TitianGerm

MightyMunster wrote: »

If it's a company car purchase you'll "save" around 25k in tax by buying from pre tax income

No he won't.

You can claim capital allowances up to €24,000 on cars. The €24,000 reduces your taxable income not your actual tax.

MightyMunster

TitianGerm wrote: »

No he won't.

You can claim capital allowances up to €24,000 on cars. The €24,000 reduces your taxable income not your actual tax.

Rough calculations

1. pay yourself 50k gross, have 25k net to buy a car
2. Company buys a 50k car and pays you nothing.
You have the use of a 50k car for the loss of 25k pay, saving 25k in income tax.

TitianGerm

MightyMunster wrote: »

Rough calculations

1. pay yourself 50k gross, have 25k net to buy a car
2. Company buys a 50k car and pays you nothing.
You have the use of a 50k car for the loss of 25k pay, saving 25k in income tax.

A single person earning €50k will take home around €36.5k not €25k.

slave1

Car allowances that forgo salary such as that are not allowed for tax purposes

Gumbo

0lddog wrote: »

UK emergency services trying out M3

In other news, 3 prisoners escaped through the panel gaps today.

graememk

slave1 wrote: »

Car allowances that forgo salary such as that are not allowed for tax purposes

Although if your self employed your not taxed on what you take from the business. The tax is on the profit* of the business

- talk to your accountant. You have to stand by what's claimed if there's ever an audit.

*I know it's not just profit, there's capital allowances etc etc -

MightyMunster

TitianGerm wrote: »

A single person earning €50k will take home around €36.5k not €25k.

True for the first 50k but not for the second one for example.
In your example you'd still be saving 13.5k in tax by the company buying the car instead of paying you the money to buy it.

TitianGerm

MightyMunster wrote: »

True for the first 50k but not for the second one for example.
In your example you'd still be saving 13.5k in tax by the company buying the car instead of paying you the money to buy it.

No the employee will be liable to BIK on a portion of the value of the car as well.

As someone else said Revenue don't look to favourably on salary sacrifices like your suggesting and you could be asking for trouble down the line.

innrain

I think MightyMunster speaks from the owner perspective and not the employee. and there is no BIK for the next 17 months if new <50k pre grants. The window closes on this though as 17 months go fast and your facing a 20+% of the said value as BIK for every year of use
As an rough example EV price 50k. BIK lets say 20% -> 10k on top of your personal annual income that could get you a tax bill of 4k per year. There are benefits though so is up to you if it's worth it.

TitianGerm

innrain wrote: »

I think MightyMunster speaks from the owner perspective and not the employee. and there is no BIK for the next 17 months if new <50k pre grants. The window closes on this though as 17 months go fast and your facing a 20+% of the said value as BIK for every year of use
As an rough example EV price 50k. BIK lets say 20% -> 10k on top of your personal annual income that could get you a tax bill of 4k per year. There are benefits though so is up to you if it's worth it.

An owner of a company can also be an employee and would need his BIK treated accordingly.

Is there a Tesla available pre grant for less than €50k?

wassie

innrain wrote: »

I think MightyMunster speaks from the owner perspective and not the employee. and there is no BIK for the next 17 months if new <50k pre grants. The window closes on this though as 17 months go fast and your facing a 20+% of the said value as BIK for every year of use
As an rough example EV price 50k. BIK lets say 20% -> 10k on top of your personal annual income that could get you a tax bill of 4k per year. There are benefits though so is up to you if it's worth it.

This is the worst case scenario - There are rumours that the BIK exemptions on EVs will be extended beyond 2022 in some form to assist meeting our CO2 targets. We wont know for sure until this years Budget is handed down. Thread on BIK & EVs here.

innrain

I don't think so. The cheaper one is 49k after so at least 54k before grants. BIK would be on the 4k or whatever is over 50k I'm not saying owner is not liable to BIK as any employee. Im saying no other employee would take a salary sacrifice to pay a company car unless they own the company. Or at least this is what I guessed the OP was referring to.

Kramer

Petetheroadie wrote: »

How come you're getting rid of your Model 3 Kramer? Is it listed anywhere?

Just devilment :pac:.

Mrs. K saw a new blue one & I said it was a long range model. She asked if they were much dearer, which I took to mean she wanted it :pac:.
We were actually in Sandyford today & it may happen, but it's not listed anywhere.

We do tend to change cars too frequently. Our new Ioniq went after just a year too.

Grand drive down the M7 to Limerick. 220km at mostly 120km/h, no need to stop for a charge, consumption 16kWh/100km.

Lots of Model 3s driving out with new owners from Sandyford too :eek:.
Well wear to anyone here collecting today!

AndyBoBandy

Kramer wrote: »

Grand drive down the M7 to Limerick. 220km at mostly 120km/h, no need to stop for a charge, consumption 16kWh/100km.

I’ve been finding my consumption lately driving at 120km/h has been 16kWh/100km which is just fantastic efficiency.

wassie

Yep - what a difference six months makes.

innrain

Kramer wrote: »

Just devilment :pac:.

Mrs. K saw a new blue one & I said it was a long range model. She asked if they were much dearer, which I took to mean she wanted it :pac:.
We were actually in Sandyford today & it may happen, but it's not listed anywhere.

We do tend to change cars too frequently. Our new Ioniq went after just a year too.

Grand drive down the M7 to Limerick. 220km at mostly 120km/h, no need to stop for a charge, consumption 16kWh/100km.

Lots of Model 3s driving out with new owners from Sandyford too :eek:.
Well wear to anyone here collecting today!

Any signs of works for the SuC around there?

Gumbo

innrain wrote: »

Any signs of works for the SuC around there?

They only got planning last month. There’s still an appeal period and then construction. Expect it to be later in the year.

mfceiling

Went to my local circle k today to charge.

Was on 27% and after 44 minutes on the 50kw charger I went to 67% at a cost of €11.33.

That's not great is it? Not giving me much faith when I'm relying on the public network next year.

That's approximately 100 miles added.

With diesel at 139.9 a litre, and an average diesel doing 50 mpg then that is a similar figure.

silver_sky

mfceiling wrote: »

Went to my local circle k today to charge.

Was on 27% and after 44 minutes on the 50kw charger I went to 67% at a cost of €11.33.

That's not great is it? Not giving me much faith when I'm relying on the public network next year.

That's approximately 100 miles added.

With diesel at 139.9 a litre, and an average diesel doing 50 mpg then that is a similar figure.

Is that on esb? Sounds like you might have gotten hit with the overstay penalty. Check your account

mfceiling

silver_sky wrote: »

Is that on esb? Sounds like you might have gotten hit with the overstay penalty. Check your account

Definitely didn't get hit with the overstay. Stopped the timer on 44 minutes...was keeping an eye on my time on the ESB app!!

Kramer

silver_sky wrote: »

Is that on esb? Sounds like you might have gotten hit with the overstay penalty. Check your account

mfceiling wrote: »

Definitely didn't get hit with the overstay. Stopped the timer on 44 minutes...was keeping an eye on my time on the ESB app!!

If you've an SR+, 40% added would be 20kWh @ €0.30/kWh approx, so €6.
Most likely the eCars backend system timed you as over 45 minutes & applied the €5 overstay fee.

It's happened several already who stopped at 44 minutes but there's a delay with eCars.

innrain

mfceiling wrote: »

Definitely didn't get hit with the overstay. Stopped the timer on 44 minutes...was keeping an eye on my time on the ESB app!!

You should get the details of in the charge history in the app.

silver_sky

They were also doing maintenance today so it wouldn't surprise me if there was some buggy stuff happening.

mfceiling

Kramer wrote: »

If you've an SR+, 40% added would be 20kWh @ €0.30/kWh approx, so €6.
Most likely the eCars backend system timed you as over 45 minutes & applied the €5 overstay fee.

It's happened several already who stopped at 44 minutes but there's a delay with eCars.

Just checked the email and it said charging time 44 minutes 49 seconds and energy consumed 37.160.
Does that sound right?

mfceiling

Here

innrain

37kWh sounds right for 45 mins the problem is you're missing some 20%. hmm. Never happened to me before. Any other car plugged on AC?

Kramer

innrain wrote: »

37kWh sounds right for 45 mins the problem is you're missing some 20%. hmm.

Is your car an SR+?
37kWh in 45 minutes is possible on a 50kW charger (unusual though in a Model 3 IMO - you'd be maxing it at 125 amps @ 400v for the entire time & the Model 3's battery charges from approx. 350v at the low end to 400v, full, with lower voltages for the new battery chemistry SR+ cars).

A LR could take 37kWhs in 45 minutes too at a 50kW charger, but that wouldn't equate to a 40% charge either, i.e. 27% to 67%.

Maybe someone else is familiar with that charger & it's a HPC?