child tax credit v company car

scotty2000_2

I currently have 4 kids and i am claiming child tax credit. I work full time and now have a job need company car and company fuel card. To work out my tax credit i now need to add on the benefit in kind of £7500 onto my salary to calculate tax credit, since this has happened i have lost £40 per week on tax credit.
Is there anything i can claim to help reduce this payment or is there any other forms i can fill out, it wouldnt be so bad however i still need to run my own family car as the company car is too small for my 4 kids me and my wife!!!

chilli_dog

in exactly the same boat as you my friend, except we have 3 kids!!

As far as i know, its just tough!!

I personally dont see how my car is a benefit, i dont use it at weekends, its full off work stuff,

mouseymousey99

not much help but do you have to take the car? Back in my employed days you could also opt for a cycle (Environmentaly friendly place).

crunchy_with_ketchup

If you don't need the car for commuting purposes, you could get your employer to discontinue your personal use of the car, you would then be in the same position as using a pool car. It would then have to be left at work when you weren't using it.

bigwhiteberty

this is the same as us we have 2 children hubby is thtinking of company car but just isn't feesable with the amount of credits we will lose. I cannot understand how or why you get taxed twice when having a company car. The car will not be a benefit to us its just to get hubby to and from work yet he will have money stopped out of his wages for it and we will get money stopped from child tax credits. Just doesn't seem fair!!!!:rolleyes::rolleyes::rolleyes:

newmoneysavingexpert

if your husband will be using the car to get to and from work then this is a benefit to you as you wouldn't have to pay for any other means of transport