SHESCOOBY

[Edited by SHESCOOBY - 11/9/2003 8:37:16 PM]

Burt

I am toying with the idea of taking a company car, but want to know how much less I will get in my wage packet per month. I've got figures from the Company Car Tax programs on the net, but not sure how to apply this to my net salary...

Any help would be nice.

Cheers
Burt

James Neill

iTrader: (1)

http://money.msn.co.uk/tax/Calculate_4_/BenefitInKind/car_benefit/default.asp

Burt

Thanks for that, excellent site and made it loads clearer.

Cheers
Burt

druddle

www.cashorcar.com

Dave

Bottomfeeder

Burt,

Despite all the facts and figures, mind if I stick my 'oar in' ?
I was given two options with my current employer .... a company car (of my choice upto the lease value of 350 quid per month) or an allowance af £475 before tax.
I decided that the company car was the way to go, no need to worry about tax, insurance, repairs...yadda yadda yadda.............
Despite being sensible and getting myself an Audi A3 Sport.......My tax was a disgrace, I was put on a K code and 'screwed' each month. As soon as I could I got out of the company car scheme (August) and took the money, so now I have to pay tax on a company car i do not drive any more (until start of new tax year) and take a 'hit' on the car allowance......fekking soul destroying.

dba

Bottomfeeder,no offence,but thats all your own fault,unitentionally.You could have phoned the tax office the day you got the car and they would have changed your code that very day,and you have been paying the correct tax from the off.I've always done that and have never relied on my HO to communicated anything quick due to their carrier pidgeo going off sick on a regualr basis due to overwork.

company cars become less attractve if you do a lot of business miles and can reclaim milage back from the governmnent as a tax allowance,ie you pretend your office is 3inches from your front door and the other 30,000 you do is all business (travelling to and from work is classed as private mileage).They do check though

^Qwerty^

Don't quite follow that one. I understand about the ability to claim back some difference or other against your tax (IIRC it ends up been around ~50ppm from what your company will pay if you just get a cash allowance), but if I was doing any kind of serious milage, I'd want it to be in somebody elses car. Please point out where I'm going wrong, because my car is due to go back early next year, and I'm in the car or cash debate atm. (although it may just end up being a you can take the cash allowance or the cash allowance, cos the company appears to be trying to get rid of all CC's)

Let's just take my current example:

WRX List Price £21,800 (was)
So I pay ~£250pm car tax for the WRX? (I think)

Cash allternative £6750 (gross)
Cash allternative after tax and NI is ~£300pm

So let's add £300 + £250 to give me £550pm to spend on my own car. Now say I want another WRX

Insurance = ~£1000 per year
Tax = £160 per year
Tyres = £1000 (that's about the cost of mine so far on 46k)
Servicing = £500 a year

I'm not sure I'll be better off TBH..... unless I buy a 306 TDi or sumat like that

Then again, when I run my details into one of the links above, it claims that if I PCP a STi8, I'll be over £100 a month better off, and that's including an estimate for insurance.

I really can't see it, and I must be missing something obvious. If I'm not....... hey guess what I might be driving in a few months time