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lease / request for an English expression

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citrohanc6   
Mon Jun 03 2013, 08:20pm
Joined: Jan 02 2011
Member No: #329
Location: utrecht
not shure if it's used on the other side of the channel as well; but the expression lease (functional lease, financial lease) is used here in the Netherlands when you pay a monthly fee for a thing (car, copier or whatsoever) for the use over a certain period of time. Okay

Now in Holland as in other countries as well, if you're allowed to choose a (lease) car your choise must be on a level relating your function in an enterprise.
If your choise is above this "functional level" in the firm your salary will be lowered. On the other side if you downgrade and opt for a small car you will be offered a bonus.

My questions are about these situations; are there expressions for these situations (or can someone create an expression)? As all business talk is English the most awkward combinations are used:
Upper- and underlease etc.
So is there an official combination of words in use for these actions?
Anyone?

Regards
Winus


C6Dave   
Tue Jun 04 2013, 06:00am

Joined: Oct 01 2009
Member No: #1
Location: Northumberland
In the UK a 'Company car' may be provided depending on the actual work role. However depending on your pay grade or status there will be a fixed 'band' of cars you can choose from depending on the monthly lease fee for individual vehicles.

If you want a car that's in a higher grade than you would normally be entitled to then the employee pays the difference, if you want a smaller car then the employee gets nothing back, the only benefit is that the car will fall into a smaller tax bracket so the employee pays less tax

That happens because the Inland Revenue deems the car to be a 'Benefit in kind' - Click Here -

Most companies will also allow you to take the 'allowance' as a monthly cash payment (which is taxable) and use that to source your own car.

Inland Revenue wrote ...
You will pay tax if a company car is made available to you for your private use (this includes commuting) or you are provided with free or subsidised fuel for private use in that car. The tax you pay is broadly determined by three factors:

The list price of the car plus any accessories
The CO2 emissions of the car, and
The fuel type of the car.
In general, the benefit charge is lower for cleaner and cheaper cars. This is to encourage you and your employer to choose cars which are less damaging to the environment.
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James   
Tue Jun 04 2013, 12:35pm
Joined: Mar 03 2012
Member No: #817
Location: Somewhere in the south of England
To give an example of how we'd write about this.

My first C6 was a company car. The lease allowance for my grade was £500 per month, and leasing company charged £560 so the £60 that I over-spent was deducted from my salary (with the tax and so on).

My previous car was £460 a month so this company added the £40 under-spend to my salary (Not all companies do)so I paid tax on it.
citrohanc6   
Tue Jun 04 2013, 09:57pm
Joined: Jan 02 2011
Member No: #329
Location: utrecht
thanks James and Dave

will propose
1 over- or underspend lease construction
2 a beneficiary or malficiary (is that English?) lease construction.

Was asking this on behalf of my wife's (works councel) job.

Regards,
Winus
 

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