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Company vehicle benefit
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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
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