nadger

Does anyone know anything about employee car ownership schemes?

My new job offer £255 net/month (which is apprently tax free) equivelient to about 5K gross a year if I was taxed on this sum.I am allowed to use any car of my choice and get paid 10p/mile for buiness milage.

1. Is this really tax free beacuase as I don't want a big tx bill in the future.
2. As for the 10p/mile can I claim back the diffrence of 30p/mile for the first 10,000 miles on my tax return?

Thanks

OllyK

1. It will have been taxed, hence why it is quoted as a net figure.
2. Yes.

nadger

Thanks for the reply but reading through the details it states the allowance is not taxable as it is an ECO scheme and not a standard car allowance. So if I am not paying the tax does the company?

MattN

don't you have a scheme administrator or something? You run a high risk of getting mis-information on here as we can't see what your looking at.

gpssti4

iTrader: (6)

hhmmmmmmmm depends on the scheme.

There are ones out there where by you don't pay car tax. For instance, if the car is 'owned' by you, then you don't pay tax. For example, if you were to own a car supplied by your company you wouldn't pay company car tax. The company would pay for the car, but it would be in your name.

And before people say it's not true, it is, my company is paying me £30 a month extra salary to drive an Astra 150TDI, I know it should be more ............. and no car tax. I've even checked my tax code to make sure!