Car Allowence can i claim any tax back
#1
Car Allowence can i claim any tax back
I am just starting a new job and they have given me a 10% car allowence it works out to £3250. I would be driving 20k a year and they will be giving me a fuel car for all my fuel.
My question is can i claim any more tax back or any way i can get a better deal as the allowence seems low or do you think this is ok
Thanks
My question is can i claim any more tax back or any way i can get a better deal as the allowence seems low or do you think this is ok
Thanks
#2
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allowance seems resonable as it differs from place to place.
As far as claiming tax back I am not sure if with a fuel card you can TBH as you will be taxed on having one as a benefit in kind - that said if you are only using it for business miles and not personal there is another set of rules for this.
Also the best way to see if the allowance if about right would be to see what car they would let you have against your banding it should be relative to what you can buy with your allowance over the same period you would have the car usually 3 years, less insurance and so on.
thats how I have always looked at it.
So if they were going to give you an Audi A3 sport circa 19k it would be a mismatch to a degree as you could never buy ony on the allowance value, but if they were going to give you a 10k corsa you could almost.
One thing I have always done too would be to add the amount of tax payable onto the allowance value as that is more likely the value of the car you would have.
As far as claiming tax back I am not sure if with a fuel card you can TBH as you will be taxed on having one as a benefit in kind - that said if you are only using it for business miles and not personal there is another set of rules for this.
Also the best way to see if the allowance if about right would be to see what car they would let you have against your banding it should be relative to what you can buy with your allowance over the same period you would have the car usually 3 years, less insurance and so on.
thats how I have always looked at it.
So if they were going to give you an Audi A3 sport circa 19k it would be a mismatch to a degree as you could never buy ony on the allowance value, but if they were going to give you a 10k corsa you could almost.
One thing I have always done too would be to add the amount of tax payable onto the allowance value as that is more likely the value of the car you would have.
Last edited by PaulC72; 12 September 2009 at 11:07 AM. Reason: added more
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