Tax on a company car

DEQ8345

Hi

Wonder if anyone can help if I have to pay tax on a company car at 40% the value given is say £200 per month tax, does this mean I will receive £200 less in my take home every month or say at 40% it means my real deduction is approx £120.00 as the £200 is taken before my salary is taxed? (This is the tax calculated on the car cost and co2 emms not the car allowance that I'm talking about)

Thanks in advance DEQ8345:money: What a guy

Conor_3

If the taxable value is £200 a month, you'll pay £80 a month tax on it so basically, you'll pay £80 a month more tax on your take home pay than you do now but you'll have a company car.

I think that's right.

MRSTITTLEMOUSE

Conor wrote: »

If the taxable value is £200 a month, you'll pay £80 a month tax on it so basically, you'll pay £80 a month more tax on your take home pay than you do now but you'll have a company car.

I think that's right.

I think you are right, as this is what happens with my husband.