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don't spend any time driving shit cars if you can help it dude. but i know nothing about company cars or tax or benefits, or cars for that matter
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If you take the car, you'll still pay tax on the benefit in kind. I have no idea how they'll calculate that, but they will. How the nickel and dimes play out will likely only make a difference if you take the cash and then buy a cheap shit box to run around in. If the two are anywhere near similar (company car vs what you would buy out of your own money/allowance) then there's probably not much in it beyond how restricted you are by what car they offer.
I (for some reason) have a £433 a month (net) car allowance in my payslip that was negotiated when my last company got acquired. If I had funneled that straight into a car fund, I wouldn't be driving a 2007 C Max.......
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If you take the company car, you pay benefit in kind tax based on the list price of the car and a multiplier related to the CO2 output of the model of car.
Quite a few calculators around, like this one:
https://comcar.co.uk/companycar/tax/select/
Obvs if you take the cash, it is taxed as salary.
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jonny
stevo_com
ChasnotRobert
@BRM
anyone have a company car?
i have the option of taking one. pretty shit options, tbh. £23k. <130g/km. < a year old and <10k miles, diesel/hybrid
if i take this, rather than a £5100 allownace, do i then pay tax on top of the car?
ie, after two years, i'd be up approx £6k (net) plus the tax i would have paid as benefit in kind if i didn't tke the car?