Tax on Company Car?

m8rk76

Hi All,

I am due to get my first company car in the next few weeks and I am finding it very difficult to work out how much I will have to pay every month, I have tried calculators on the web but I know there are many factors so thought I would join this forum in the hope someone could help me.

There is no one I can seek advice from as none of my family or friends has a company car and most of the advice I get is not reliable. I need to be sure before making a choice as there is no going back.

It recently become more difficult when a friend mentioned I have to also pay tax on the fuel that I use, I am not sure if this is true, maybe someone can explain and break it down for me?
The Cars I have been offered.

A4 Saloon
2.0 TDIe SE
C02 112
Value £26,880

A4 Saloon
2.0 TDI S line
C02 119
Value £29,850

My salary is £30,000 per year

I would REALY appreciate any advice and help on how much extra tax I would pay per month and if I would have to pay tax on fuel etc. If any more information is needed please let me know.

m8rk76

Thank you for the reply, I will have a fuel card so employer will be paying. How is personal use measured and is traveling to work classed as personal use?

I have tried the above calculator but to confusing for me to work this out.....

m8rk76

Please see below results, I would be on the 20% but I have "NO" Idea how to work this out with the benefit in kind.

Audi A4 S-Line
Percentage charge 21%
Benefit in kind £6,321
Tax payable at 20% £1,264
Tax payable at 40% £2,528

Other information, my salary is 30,000/py
Current tax paid is £225/pm
Tax code 1000L

With my lack of knowledge i have divided the 20% £1264 by 12 months and got the figure £105.33 extra per month, im thinking this cannot be correct and i must be missing somthing.

As mentioned before there is no going back so really need to work this out and would appreciate help....

m8rk76

That is only for Car and not fuel, I calculated at .whatcar.com/company-car-tax.

Sorry, monthly tax paid is £341.60 it was the NI A EE £225.60 Total deductions £567.30

hope this information helps, and i appreciate your help.

nearlyrich

I have a fuel card it depends on the taxable rate of the car you drive my BMW 1 and fuel card cost me around £8k in tax per year..

purdyoaten

m8rk76 wrote: »

Please see below results, I would be on the 20% but I have "NO" Idea how to work this out with the benefit in kind.

Audi A4 S-Line
Percentage charge 21%
Benefit in kind £6,321
Tax payable at 20% £1,264
Tax payable at 40% £2,528

Other information, my salary is 30,000/py
Current tax paid is £225/pm
Tax code 1000L

With my lack of knowledge i have divided the 20% £1264 by 12 months and got the figure £105.33 extra per month, im thinking this cannot be correct and i must be missing somthing.

As mentioned before there is no going back so really need to work this out and would appreciate help....

Nothing that I can see that is wrong with your calculations! £105 per month it is - not bad when you consider that this includes insurance, car tax, repairs and servicing which you would be paying in any case if you were driving your own car. Even then we have not considered actually paying for the car!

If you are also getting FREE private fuel, the charge will increase by approx £75 per month according to my calculations.