Company car tax help - how do you work it out?

[Woody]

Guys,
Looking at going back intot he company car scheme and need a bit of help working out tax etc. and how it'll affect my bottom line take home.

Currently I get a car allowance which is paid directly with my wages - irrc this is subject to Tax but not NI, I'm also a 20% tax payer.

As an example how do I work out how much tax I'll pay on the following:

P11d Value: £21,210.00
CO2 Emissions: 110
Taxable % of P11d: 18%
Annual BIK Tax Payable at 20%: £763.56

Cash Allowance: £350.00
Salary Sacrifice Rental: £371.42

The quotes from the car scheme department only show me down £78.20 but that can't be right, as I'll be the my car allownce down as well!

If someone could break it down that would be great.

Thanks

[bogie]

its complicated but you are right, you lose your car allowance too

try www.comcar.co.uk to work out the actual car tax and fuel benefit (if you get a card)

that will tell you how much extra tax you will pay each month

then deduct your car allowance alternative

and then realise the total cost over 3 years, you may as well have bought the car for real....at least you own it at the end rather than lose £36K gross every 3 years forever to drive a new car

you need to do a lot of miles to make a company car pay for itself...or drive a 1.0d hybrid with virtually no tax liability...