New job after being with a company for 1 month…

[ivrytwr3]

I manage my own dairy

That's good, I hate it when others steal my milk.

Glad it worked out for you.

 

[Bounce]

@Bounce Seems to have worked out well for you buddy!

Although I wold probably look to give up the company car for a non BIK tax option in the future, dont know what you've got or the damage it does to you, but it absolutely crippled me in my previous job where I had a company car.

Thanks !

Sorry going abit off topic hear , I currently have a hire car it’s an MG Hs currently paying about £140 a month in tax. It’s diesel , there is a new company car scheme coming soon which will have a wide range of hybrids.

I can take £400 car allowance but that will be subject to income tax, plus got to get the car , insurance , tax etc.

Did you buy a car or personally lease ? And what did you get? Interested in getting your view, as iv been trying to weight it all up what would be best.

I am expected to do about 10k a year on company mileage

 

[sidimmu]

Thanks !

Sorry going abit off topic hear , I currently have a hire car it’s an MG Hs currently paying about £140 a month in tax. It’s diesel , there is a new company car scheme coming soon which will have a wide range of hybrids.

I can take £400 car allowance but that will be subject to income tax, plus got to get the car , insurance , tax etc.

Did you buy a car or personally lease ? And what did you get? Interested in getting your view, as iv been trying to weight it all up what would be best.

I am expected to do about 10k a year on company mileage

So, was PAYE FTE at a company, 40% bracket, driving a 2017 A4 2l diesel, BIK goes against the value of car when bought, so 2020 with all the car problems and everything meant I was still paying for a vehicle classed as 35 grand even though at that point was barely worth 15k. Overall my BIK cost me an extra £350 a month in additional tax.
My company did do a car allowance scheme but it just didnt work out well for me at the time. The BIK was costing me so much tax in the end it was bonkers, I ended up getting bonus (4 figures) and the tax man took 55% of it, thief's.

I have my own company now and have done a PCP lease.