Company car/ cash allowance

whippetboy

My question is currently i have a company car, soon i will have the chance to opt out,

I would get £360PM before tax my employer provide fuel card for private car and then you pay back private mileage or i could take the private fuel benifit.

What tax can i claim if i take allowance?

Is it woth having own car or take company? Is it better to buy or take a pcp?

Thanks.

cosyc

Have a look at http://www.cashorcar.co.uk/ and http://www.theaa.com/allaboutcars/companycartax/index.jsp

You can work out whether worth your while.
If you pay basic rate tax 20% and NIC at 11 % then you will bring home less than £250 a month. So is that enough to buy a car, insurance (whish will be more as business cover needed, road tax, fuel, servicing etc. Compared to the extra added back as no company car tax.??