Which company car tax calculator do you use?
Discussion
There's loads of these about, but most seem to offer differing results.
I've used ComCar.co.uk but am sceptical because it basically says I'll be paying £95 per month in tax, including fuel benefit, on a Passat 2.0TDI 140.
Which can't be right....
I just want a simple calculator where I can put in what I earn and what car I'm getting and it will tell me what I'm taking home. Is there such a device?
TIA
I've used ComCar.co.uk but am sceptical because it basically says I'll be paying £95 per month in tax, including fuel benefit, on a Passat 2.0TDI 140.
Which can't be right....
I just want a simple calculator where I can put in what I earn and what car I'm getting and it will tell me what I'm taking home. Is there such a device?
TIA
Can you not do the calculations yourself without the need of an on-line calculator?
The annual value of the benefit in kind will be based on the list price and CO2 rating of the car you are using. Find the list price and CO2 rating and you should be able to work out the annual charge.
When you have the annual charge, apply the top rate of Income Tax you pay i.e. 20% or 40% (or maybe even 50%).
It can get complicated if you are a basic rate tax payer but the BIK value of the car tips you into the Higher Rate Bracket.
The annual value of the benefit in kind will be based on the list price and CO2 rating of the car you are using. Find the list price and CO2 rating and you should be able to work out the annual charge.
When you have the annual charge, apply the top rate of Income Tax you pay i.e. 20% or 40% (or maybe even 50%).
It can get complicated if you are a basic rate tax payer but the BIK value of the car tips you into the Higher Rate Bracket.
Eric Mc said:
Can you not do the calculations yourself without the need of an on-line calculator?
The annual value of the benefit in kind will be based on the list price and CO2 rating of the car you are using. Find the list price and CO2 rating and you should be able to work out the annual charge.
When you have the annual charge, apply the top rate of Income Tax you pay i.e. 20% or 40% (or maybe even 50%).
It can get complicated if you are a basic rate tax payer but the BIK value of the car tips you into the Higher Rate Bracket
Yup - that would be the problem The annual value of the benefit in kind will be based on the list price and CO2 rating of the car you are using. Find the list price and CO2 rating and you should be able to work out the annual charge.
When you have the annual charge, apply the top rate of Income Tax you pay i.e. 20% or 40% (or maybe even 50%).
It can get complicated if you are a basic rate tax payer but the BIK value of the car tips you into the Higher Rate Bracket
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