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How much would I save with a Company Car?
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Jackt90
Posts: 37 Forumite
in Cutting tax
Current situation is as follows:
Private leased vehicle - £375/month (incls tax/MOT)
Insurance - £75/month
Service/tyres etc say £40
Total - £500/month *plus private mileage
*My employer pays for work mileage at 40p/mile. Private mileage I pay for.
I am interested in getting a company car next year when my lease expires. Say I got a £20k car, how much saving could I make roughly?
I'm a lower band tax payer.
Private leased vehicle - £375/month (incls tax/MOT)
Insurance - £75/month
Service/tyres etc say £40
Total - £500/month *plus private mileage
*My employer pays for work mileage at 40p/mile. Private mileage I pay for.
I am interested in getting a company car next year when my lease expires. Say I got a £20k car, how much saving could I make roughly?
I'm a lower band tax payer.
0
Comments
-
Depends on CO2 etc of the car.
You can calculate it here - https://www.gov.uk/calculate-tax-on-company-cars
Will also depend on what your employer will then do about fuel/mileage.0
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