MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
Got my job offer, and it comes with a car allowance. Presumably if I don't take the car then that allowance gets taxed so I just add it onto my gross salary?
No, you get tax free money, its great...
🙂
Hmm.... *rubs chin*
The offer is low enough that I'm not sure if I want it, but high enough to make it worth considering.. hmm...
what do code monkeys need a car allowance for?
This is a technical specialist consultant bigwig job 🙂
Not sure about other people, but I get taxed on my car allowance as if it's part of my salary.
Just worked out it's actually slightly cheaper in money terms to get a company car instead of servicing, insuring and financing mine.
However.. need to read up on company car tax as I'm not sure how it affects my rate; and after a couple more years I'd own my current car.
Usually a car allowance is a sum of money, from which your expected to ensure you always have a car to access when your employer needs to travel.
It doesnt mean they give you a car physically?
I've got no idea how to calculate all this...
You can take a company car from their leasing scheme. This obviously costs money, but also affects your tax.. but I think I'd be claiming business miles.. I suppose I need to talk to HR.
This is a technical specialist consultant bigwig job
Oooooooh get her! 😉
Car allowance at my place is an addition to your base pay and is taxable at your standard rate. It comes with the obligation to have a car insured taxed and service for company use. It's more than the allowance for a company car.
But it still means that I have a car sat on the drive doing nothing as I ride to work everyday of the year!
timdavies - Member
Car allowance at my place is an addition to your base pay and is taxable at your standard rate. It comes with the obligation to have a car insured taxed and service for company use. It's more than the allowance for a company car.But it still means that I have a car sat on the drive doing nothing as I ride to work everyday of the year!
With the exception I got relocated to London and get a free travelcard to work & back, same here. Lump sum taxed at source.
Taxed on mine, and I have to have a car available to be able to claim in the first place. It's non-pensionable.
Thats a good point - yes it is non pensionable.