company car tax

lee_w

evening

my car benefit is £5400 for the next tax year, am i right in thinking i pay the tax at 20% being £1080

so spread over 12 months i pay £90 a month having a company car?

private fuel is roughly £60 a month so £150 a month all in?

many thanks

CLAPTON

depends upon your salary whether you are taxed at 20% or 40% or a mix of both

lee_w

20% under 35k

CLAPTON

essentially

salary plus benefits in kind plus other income (e.g. savings, dividends grossed up )
less pension less 7475 then
if that is less than 35,000 tax at 20%
if above then 40%
or a bit of both