We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
How does tax code change when you no longer have a company car?
Kina7246
Posts: 7 Forumite
in Cutting tax
Just trying to understand how paying tax works.
Scenario - figures rounded up to make it easy and ignoring personal allowance.
If figures for car and fuel allowance is -£6,000 and then 6 months into the year you hand in the car, does your car and fuel allowance figure change to -£3,000 or does it change to £0 because you paid for the car at the higher rate whilst you actually had it?
Scenario - figures rounded up to make it easy and ignoring personal allowance.
If figures for car and fuel allowance is -£6,000 and then 6 months into the year you hand in the car, does your car and fuel allowance figure change to -£3,000 or does it change to £0 because you paid for the car at the higher rate whilst you actually had it?
0
Comments
-
as per your example the benefit charge would change to £3000 as this is the value of the benefit received in the year.Just trying to understand how paying tax works.
Scenario - figures rounded up to make it easy and ignoring personal allowance.
If figures for car and fuel allowance is -£6,000 and then 6 months into the year you hand in the car, does your car and fuel allowance figure change to -£3,000 or does it change to £0 because you paid for the car at the higher rate whilst you actually had it?[SIZE=-1]To equate judgement and wisdom with occupation is at best . . . insulting.
[/SIZE]0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.4K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.8K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards