Company car Tax

DoaM

I've had company cars for 10 years and the BIK value has always been accounted for on my payslip, and tax deducted accordingly. My 200+ colleagues in the UK with company cars have always had it calculated this way too, some for far longer than I've had company cars. So it's not an "info only" item ... it forms part of the salary/deductions calculation.

Just because you haven't seen it/experienced it, doesn't make it any less true.

Car_54

DoaM said:

I've had company cars for 10 years and the BIK value has always been accounted for on my payslip, and tax deducted accordingly. My 200+ colleagues in the UK with company cars have always had it calculated this way too, some for far longer than I've had company cars. So it's not an "info only" item ... it forms part of the salary/deductions calculation.

Just because you haven't seen it/experienced it, doesn't make it any less true.

Very true.

So in that system the BIK has no effect on the tax code. That certainly makes life easier if you change  employers.

Scrapit

DoaM said:

I've had company cars for 10 years and the BIK value has always been accounted for on my payslip, and tax deducted accordingly. My 200+ colleagues in the UK with company cars have always had it calculated this way too, some for far longer than I've had company cars. So it's not an "info only" item ... it forms part of the salary/deductions calculation.

Just because you haven't seen it/experienced it, doesn't make it any less true.

Very defensive aren't we? 
You ok hun?

DoaM

Scrapit said:

DoaM said:

I've had company cars for 10 years and the BIK value has always been accounted for on my payslip, and tax deducted accordingly. My 200+ colleagues in the UK with company cars have always had it calculated this way too, some for far longer than I've had company cars. So it's not an "info only" item ... it forms part of the salary/deductions calculation.

Just because you haven't seen it/experienced it, doesn't make it any less true.

Very defensive aren't we? 
You ok hun?

Bored much?

PS - have fun with this all that you wish ... I won't be joining in. (We all know what you're like).

Scrapit

DoaM said:

Scrapit said:

DoaM said:

I've had company cars for 10 years and the BIK value has always been accounted for on my payslip, and tax deducted accordingly. My 200+ colleagues in the UK with company cars have always had it calculated this way too, some for far longer than I've had company cars. So it's not an "info only" item ... it forms part of the salary/deductions calculation.

Just because you haven't seen it/experienced it, doesn't make it any less true.

Very defensive aren't we? 
You ok hun?

Bored much?

PS - have fun with this all that you wish ... I won't be joining in. (We all know what you're like).

You've already "joined in" by starting it off. You experience is the exception, not the rule. And you seem to think bold print is required. In a discussion about company car tax?! Breathe, step back from the key board, it's ok.

452

Scrapit said:

DoaM said:

Scrapit said:

DoaM said:

I've had company cars for 10 years and the BIK value has always been accounted for on my payslip, and tax deducted accordingly. My 200+ colleagues in the UK with company cars have always had it calculated this way too, some for far longer than I've had company cars. So it's not an "info only" item ... it forms part of the salary/deductions calculation.

Just because you haven't seen it/experienced it, doesn't make it any less true.

Very defensive aren't we? 
You ok hun?

Bored much?

PS - have fun with this all that you wish ... I won't be joining in. (We all know what you're like).

You've already "joined in" by starting it off. You experience is the exception, not the rule. And you seem to think bold print is required. In a discussion about company car tax?! Breathe, step back from the key board, it's ok.

Why is it you're always looking for an argument in the afternoon?

Scrapit

452 said:

Scrapit said:

DoaM said:

Scrapit said:

DoaM said:

I've had company cars for 10 years and the BIK value has always been accounted for on my payslip, and tax deducted accordingly. My 200+ colleagues in the UK with company cars have always had it calculated this way too, some for far longer than I've had company cars. So it's not an "info only" item ... it forms part of the salary/deductions calculation.

Just because you haven't seen it/experienced it, doesn't make it any less true.

Very defensive aren't we? 
You ok hun?

Bored much?

PS - have fun with this all that you wish ... I won't be joining in. (We all know what you're like).

You've already "joined in" by starting it off. You experience is the exception, not the rule. And you seem to think bold print is required. In a discussion about company car tax?! Breathe, step back from the key board, it's ok.

Why is it you're always looking for an argument in the afternoon?

I look for arguments all the time. That said there's no argument to be had here, doams initial response to me and his second response on this thread were both very confrontational. Not sure wot their problem is. I did ask you about yours but you failed to respond. *shrugs*

452

Scrapit said:

452 said:

Scrapit said:

DoaM said:

Scrapit said:

DoaM said:

I've had company cars for 10 years and the BIK value has always been accounted for on my payslip, and tax deducted accordingly. My 200+ colleagues in the UK with company cars have always had it calculated this way too, some for far longer than I've had company cars. So it's not an "info only" item ... it forms part of the salary/deductions calculation.

Just because you haven't seen it/experienced it, doesn't make it any less true.

Very defensive aren't we? 
You ok hun?

Bored much?

PS - have fun with this all that you wish ... I won't be joining in. (We all know what you're like).

You've already "joined in" by starting it off. You experience is the exception, not the rule. And you seem to think bold print is required. In a discussion about company car tax?! Breathe, step back from the key board, it's ok.

Why is it you're always looking for an argument in the afternoon?

I look for arguments all the time. That said there's no argument to be had here, doams initial response to me and his second response on this thread were both very confrontational. Not sure wot their problem is. I did ask you about yours but you failed to respond. *shrugs*

May be the problem is your end?

Scrapit

452 said:

Scrapit said:

452 said:

Scrapit said:

DoaM said:

Scrapit said:

DoaM said:

I've had company cars for 10 years and the BIK value has always been accounted for on my payslip, and tax deducted accordingly. My 200+ colleagues in the UK with company cars have always had it calculated this way too, some for far longer than I've had company cars. So it's not an "info only" item ... it forms part of the salary/deductions calculation.

Just because you haven't seen it/experienced it, doesn't make it any less true.

Very defensive aren't we? 
You ok hun?

Bored much?

PS - have fun with this all that you wish ... I won't be joining in. (We all know what you're like).

You've already "joined in" by starting it off. You experience is the exception, not the rule. And you seem to think bold print is required. In a discussion about company car tax?! Breathe, step back from the key board, it's ok.

Why is it you're always looking for an argument in the afternoon?

I look for arguments all the time. That said there's no argument to be had here, doams initial response to me and his second response on this thread were both very confrontational. Not sure wot their problem is. I did ask you about yours but you failed to respond. *shrugs*

May be the problem is your end?

How would that work? I didnt make anyone post, yet here we are, foams posts are what they are. 

sheramber

DoaM said:

sheramber said:

photome said:

Scrapit said:

photome said:

DoaM said:

Scrapit said:

Ok having read the answers above my experince is your tax code will be changed and there is no BIK or company car listed on a pay slip. From the gov website 1250l is the current tax code most should have.

So your experience differs from mine. I work for a global company with ~120k employees worldwide, and several thousand in the UK. All our UK employees with company cars have the BIK on their pay slips (defined as Car Ben PY). Other BIK elements are listed in the same location (e.g. I pay monthly as BIK for global travel insurance, not that it's much use at the moment).

I have a company car and my tax code is adjusted by the BIK amount.

I am confused as to how you pay  the tax on the  BIK for your car as the tax code denotes how much tax you pay

The tax code comes down therefore the tax threshold is lower and your tax free allowance is reduced so you pay quicker. The money then comes out as your income tax.

Yes I understand that, thats exactly how I pay

What I didnt understand is how some peoples tax code doesnt change

Because the value of the car benefit is included  is payrolled i.e. it is included on the payslip as a value added to the salary  

Which was what I identified in my earlier post.

Yes,but the poster I replied to did not understand how it worked from your post. Hence  his reply hat he understood it now.