Harry Monk
Striker
Has anyone made it work for £6k, it's not a lot once you take tax off ?
Company car allowance
- Thread starter Harry Monk
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Around £300/ month? Pick your car wisely and choose a scheme that you hand the car back after three years.
SAFCGardian
Midfield
What do you mean make it work? I have just had a car allowance sorted in my new job, and I am looking at it as extra wages, I already own me own car like.
Harry Monk
Striker
Make it work if you don't already own a car
I've always thought it's better to take the money because the tax seems overly complicated on getting a car through work. None of the online calculators actually compare whether you're better off taking the cash. They just drivel on about options and f***ing trim, like dickless Clarkson wannabes
HMRC see this as income and you are taxed accordingly. The company are better off as they dont have insurance and maintenance costs. There is nothing stopping you getting a 2k loan and buying a older car which will 've paid off quickly.
SAFCGardian
Midfield
The HR lad that offered me the car or cash said that no one ever takes the car, so that made my mind up.
What I mean is, HMRC also see money paid to you instead of the car as income and tax it. But you can work out how much that is. Comparing that to the alternative - you get less cash but a car instead - is f***ing impossible
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