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I have a lease car through work, it's a basic model diesel Fiesta. I was told via work that this would cost me £30 pcm, but due to my new tax code it works out at £50pcm. I've raised it with work and HMRC with the result that my tax code went down again....
In the absence of having a helpful department at work I can approach, I thought I'd see what others experience of work cars and tax codes was... does the £50 sound right? Thanks for any input! 🙂
There's too many variables to judge whether it's correct or not
have a look here
http://www.whatcar.com/company-car-tax
Thanks jota180 - according to that site the benefit in kind on my car has been miscalculated by 100%....
Have they included fuel benefit as that can as much if not more than the car benefit?
I prefer to use [url= http://www.comcar.co.uk/newcar/companycar/taxcalc/g1select.cfm ]Comcar[/url] to work out the BIK
Thanks Craig another helpful site. I don't have any fuel benefit, and comcar says the same as the whatcar site. It's all good evidence for my next battle with payroll... both sites say £30 incidentally.
Are the £30 and £50 two separate items? I only ask as I used to pay £25 for my company car as I went for a higher model, then the additional tax I would pay per month for the benefit in kind was ~£50.