You have to calculate the benefit in kind of the car
Basically, Co2 emissions of the car will determine the percentage applied to the list price of the car. The resulting value is added to your salary as a benefit in kind and you will be taxed on that.
So if you want a company car, you should get one with the lowest emissions possible. I think there are some with 0%.
There's no doubt it's an expensive business and it isn't the perk it was, but you don't have to worry about tax, insurance, breakdowns, getting dinged in car parks.
Posted By: yarmyyarmy on August 21st 2012 at 19:13:07
Message Thread
- Anyone know much about Tax Codes (specifically company car benefit)? (n/m) (General Chat) - lurd, Aug 21, 17:45:12
- You have to calculate the benefit in kind of the car (General Chat) - yarmyyarmy, Aug 21, 19:13:07
- Not 0% emissions of course, 0 pounds benefit in kind (n/m) (General Chat) - yarmyyarmy, Aug 21, 19:14:02
- I once had a company car that resulted in me having a negative tax code. (General Chat) - tudders, Aug 21, 18:15:26
- What do you want to know? (n/m) (General Chat) - Butterworth, Aug 21, 18:08:59
- Jafski will nail this (n/m) (General Chat) - pants, Aug 21, 17:53:15
- You have to calculate the benefit in kind of the car (General Chat) - yarmyyarmy, Aug 21, 19:13:07
Reply to Message
In order to add a post to the WotB Message Board you must be a registered WotB user.
If you are not yet registered then please visit the registration page. You should ensure that their browser is setup to accept cookies.