Company car tax

[Royston Vasey]

I would go for the allowance, buy or lease a car and claim the 45p a mile.

This....

 

[tooliohelmet]

So pay tax on the allowance, tax on the lease and he can only claim business miles.

And have to maintain and insure it.

 

[Agent Orange]

Another vote for comcar.com . Along with all the other advice, also bear in mind that the taxable value of the car plus fuel allowance (if you get it) will be added to the value of your salary and may knock you into the 40% bracket. Of course you'll only pay 40% on what you earn over the limit but it effectively doubles the tax you pay on the amount over the limit. Also look at the amount of tax payable over the next three years on the comcar site, its not static and is set to rise considerably for diesels.

https://www.taxationweb.co.uk/forum/question-on-40-bracket-company-cars-t34968.html

If you've been offered a fuel card you need to work out how many private miles you do as paying the fuel tax may work out more expensive if you don't do a lot of miles.

http://comcar.co.uk/fuel/benefit/

If you have kids of university age this will also lower the amount of student loan they receive by a few hundred pounds a year.

 

[timeforheroes1]

when I started they sent me a new A4, once the additional tax plus my car allowance was taken into consideration it worked out about £420 a month and could only claim 11p mileage, opted out as soon as I could

 

[Wonderbra]

And have to maintain and insure it.

You don't maintain a lease car?