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
Car allowance vs company car - again!
secondtoughest
Posts: 234 Forumite
in Motoring
I opted out of the company car scheme last year, and I'm trying to work out if I've made the right decision. Could anyone help?
I earn £44k per annum, on top of this my car allowance is £525 per month.
I pay £325 per month for a lease on a car, which has a P11D value of £22,520. I drive around 20k company miles a year. I pay then claim back in arrears £0.14 per mile for any business mileage.
I'd like to work out what my take home would have been if I'd had this car via the company (it was on the list). I can then compare it to what I take home now then take off all the additional payments I make such as insurance / servicing etc.
The lease ends next year and I can opt back to the company car scheme if I wish.
Thanks for your help - I have tried to work this out myself but am struggling!
I earn £44k per annum, on top of this my car allowance is £525 per month.
I pay £325 per month for a lease on a car, which has a P11D value of £22,520. I drive around 20k company miles a year. I pay then claim back in arrears £0.14 per mile for any business mileage.
I'd like to work out what my take home would have been if I'd had this car via the company (it was on the list). I can then compare it to what I take home now then take off all the additional payments I make such as insurance / servicing etc.
The lease ends next year and I can opt back to the company car scheme if I wish.
Thanks for your help - I have tried to work this out myself but am struggling!
2016 diet challenge 16lbs/42lbs lost
2014 MFW #114: £5000 overpayments made
2015 Savings Challenge #65: £6000 saved
2014 MFW #114: £5000 overpayments made
2015 Savings Challenge #65: £6000 saved
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