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P11D Car valuation
Tony0809
Posts: 1 Newbie
in Cutting tax
I have a "job needs car" with my company and pay a contribution of £60 a month. I am taxed based on the value of the car. The car value does not go down on the P11D which I think is wrong for the three years I have had the car.
Am I entitled to amend the value of the car on the P11D based on the current market price. The tax is a lot and I want to know if this can be completed. Thanks Tony
Am I entitled to amend the value of the car on the P11D based on the current market price. The tax is a lot and I want to know if this can be completed. Thanks Tony
0
Comments
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no, the taxable value of the car is fixed at its original list price for as long as you have it.
you cannot reduce the value of the car because it is a year older.
which is why company cars are not the perk they used to be, they now generally cost people a lot of tax0
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