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
Company vehicle benefit
Pandysec
Posts: 1 Newbie
Hi all,
I have a company van, with private use and fuel benefit.
I currently pay, £3550 in tax for this van, which is the standard rate. But I wish to buy my own car, as the van is not enough use out of work.
I also pay £25 a month personally towards fuel.
My question is, if I cancel the private use etc, I won't pay out the £3550 in tax, but would I actually save each month?
Would I save what ever £3550 divided by 12?
Sorry for the silly question but it's a grey area.
Many thanks
Andy
I have a company van, with private use and fuel benefit.
I currently pay, £3550 in tax for this van, which is the standard rate. But I wish to buy my own car, as the van is not enough use out of work.
I also pay £25 a month personally towards fuel.
My question is, if I cancel the private use etc, I won't pay out the £3550 in tax, but would I actually save each month?
Would I save what ever £3550 divided by 12?
Sorry for the silly question but it's a grey area.
Many thanks
Andy
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards