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Company car allowance
add1100xx
Posts: 1 Newbie
in Cutting tax
Hi All,
have just got a promotion that includes £5k car allowance, can anyone tell me how much i will be left with to actually spend on a car after tax & NI.
I'm on 22% tax rate and will do approx 15/17000mls per yr.
Thanks.
have just got a promotion that includes £5k car allowance, can anyone tell me how much i will be left with to actually spend on a car after tax & NI.
I'm on 22% tax rate and will do approx 15/17000mls per yr.
Thanks.
0
Comments
-
depends how much you earn
but probaly you will pay 20% tax and 12% NI
so on 5,000 you pay 32% of 5,000 = 1,600 so 3,400 in your pocket
(and the 22% tax rate was changed in Brown's time)
you may or may not get tax relief on your mileage depending upon how much your employer pays you per mile0
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