Company Car Allowance/Car

gadgeteer_2

Hi all

I joined a global blue chip company about a decade ago. I had a promotion a few years ago to a paygrade which included a company car/allowance. I can't remember if I had to sign any new contract or not.

Anyway I hear from quite a few of my colleagues who reside in other EU countries that the company has started to remove company cars from employees saying that in current times they need to save money.

Does anyone know if this would be possible/legal or if anyone's had this done to them in the UK?

If we were losing money then I could understand but it seems each year we're told there's no money but then announce our best ever performance & profits to shareholders.

SarEl

Yes, it can be done. Yes, a lot of companies have done it.

spadoosh

And the shareholders would have more of their money if the staff werent all driving around in company cars?!?! 2 sides of the coin remember. As far as im aware with company cars its a benefit, one which you will be getting taxed on as such should they remove the company car you will have some savings in not paying tax, other than that not much to go off. Think they are allowed to remove the company car anytime they wish, have a look through your contract for more info though.