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Company Car & Tax Credits
gibbojene
Posts: 23 Forumite
I have a had a company car since July last year however never thought I had to disclose this to tax credits until today when I got my annual review form through.
My question is does having a company car seriously affect my working tax and child tax credits?
I have a fuel car, my boss pays for personal millage however I am taxed 22%.
I have a 6 year old Passat 1.9tdi.....
Am very worried the tax credits we get that keep me a float will come down alot!
My question is does having a company car seriously affect my working tax and child tax credits?
I have a fuel car, my boss pays for personal millage however I am taxed 22%.
I have a 6 year old Passat 1.9tdi.....
Am very worried the tax credits we get that keep me a float will come down alot!
0
Comments
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I have the same question.
I wonder whether the award will increase though as I pay around £50 a month for the privilege of having the car??
Does anyone know?0 -
There is a section on your renewal form to declare 'Company Benefits' and this should be completed with the Taxable amount declared on your P11D. This figure will be treated as income in the same way as your earnings.0
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