redundant but keeping company car?

jimsing

I'll shortly be being made redundant but my boss says I can keep my company car till I get myself sorted out (I don't think he's thought this one through though it's very nice of him).

Do you know if this is allowed? Obviously I'm paying tax on the car at the moment but if I'm not earning then I'm also not paying tax. I'm sure that someone is going to have to pay for it somewhere down the line.

Has anyone been in a similar situation?

Thanks

nearlyrich

You are entitled to your company car whilst serving your notice or a payment in lieu if they take it off you straight away. As for keeping it longer, it's a taxable benefit so the employer will declare the dates you used it and HMRC will work out the tax liabliity. If you are not earning you will not have to pay the tax but it will count towards your total earnings in the tax year and you might have a small repayment to make when you start work again.

missymugwump

Is that the same if you receive a car payment ?
So they have to pay that until the end of your notice period ?

jimsing

Thanks nearlyrich, that's one less thing to worry about. Now, if I can just find a job. Anyone need an acoustics consultant?

nearlyrich

missymugwump wrote: »

Is that the same if you receive a car payment ?
So they have to pay that until the end of your notice period ?

That is true if it is part of your package they have to give you the value till the end of the contract.;)

jimsing what does an acoustic technician do?

missymugwump

Thank you


Sounds like an interesting job ?

jimsing

jimsing what does an acoustic technician do?

Click here for a basic description of what I do. My area of expertise is architectural acoustics with my main area of interest being auditorium design, studios etc. It's a great job ..... when you have one.