Question for those that either have or have had a company car, How much do you pay in tax for your company car? Been offered a job which comes with a car. Just weighing up wether its worth it or not?

 

Cheers in advance

It depends on the emissions of the car and the price when new mate.

 

So a low emission diesel car, like a VW Golf TDi (new price £20k) will cost you around £60 per month if you are a basic rate tax payer and £120 per month if you are on 40%.

 

If you do take the company car, do not have your private fuel paid for by the company, unless you drive over 12000 PERSONAL miles per annum. It's just not worth it - you'd be better off paying for your own fuel and claiming back fuel for business journeys..... You get stung for tax on private fuel paid for in a company car.

 

So based on the above - you could not buy/tax/insure/repair/fit tyres for a brand new £20k Golf yourself, for just £120 per month. If you need it for work, take the company car option and pop your ZX on a classic policy. If you won't be needing a car for business, then ask what alternatives your employer will give.

 

Richard:cowboy:

Edited February 17, 201213 yr by RichardS

If you do a google search there are some calculators which tell you exactly what it will be for the car and tales into account petrol allowance, mileage, depreciation of buying your own car etc...

I currently have a Megane 1.5 diesel coupe as a company car.

£19k and 115co2

I pay approx £83 per month

 

It's being swapped next week for an insignia 2.0 diesel.

£26k and 134co2

I'll be paying approx £170 per month

 

Those figures are based on higher rate of tax, so would be a fair bit lower if you're paying basic tax rate.

 

I choose to pay my own private mileage. So company pays all my fuel then I let them know how many private miles I've done in the month which are charged at around 18p per mile.