Company car scheme questions...

PMKeates · 19 Nov 2013 at 20:57

It may be viable, it could cost anywhere between £0 and c. £10,000 per month, you may be taxed from £0 to c. £10,000 per month, you may be able to transfer the registration.

[TW]Fox · 19 Nov 2013 at 21:05

AsaTDi said:
Great! ...but is it going to be worth while?

I don't know, nobody does until you tell us what the car list looks like and what the car allowance alternative is.

2) After the first 6 months, i will get to choose my own car?

I don't know, will you? Nobody here knows your firms scheme!

Does this sound viable? And what is this car likely to cost me for the first 6 months?!

Also, what am i looking at paying per month on a company car?

This depends on what the car is.

Regy53 · 19 Nov 2013 at 21:15

also depends on your level of pay. 40% tax bracket etc

Windle · 19 Nov 2013 at 22:37

Company cars are taxed as a benefit in kind (BIK). As pointed out above, tax is dependent on a number of factors:

List price (plus optional extras)
Emissions
Type of fuel
Whether you make a capital contribution
Whether you have to pay for private usage

Diesel cars incur a 3% surcharge and the system is heavily weighted to make you choose a low emission, environmentally friendly car.