company car taxation, cash option company car calculator
  » Home » About » News » Contact » Map » Links
 

Company Car Taxation

  • Company car tax rules incorporating CO2
  • Considering taking the cash option instead of a company car?
  • Cash option cost calculation form
  • Using your own car for work

    • 'Cash Option' versus Company Car Calculator

    1. Car allowance

    Gross annual allowance   =  
    Less income tax @22% =  
      @40% =  
    Divide by 12 months   =  
          1.=__________

    2. Cost of 'free' Company car

    List price of vehicle when new   =  
    C02 Emmisions?   =  
    List Price x 15%-35% based on emmisions   =  
           
           
    Income tax payable on above figure :      
    @22%
    		   =  
    @40%
    		   =  
    Divide by 12 months   =  
          2.=__________

    3. Offsetting business use of private car against tax

    Authorised Mileage Rates Method    
    First 10000miles@40p =      
    Over 10000 miles@25p =      
    Total =      
    Subtract any company contribution =      

    Multiply by tax @22%=
    		 
      @40%=
    		 
        Divide by 12 months =
           
       
    		3.=__________

    1. + 2. + 3. = Available monthly budget versus taking the Company car.

    Total = ___________

     
    Harbour Cars, 7-8 Donnington Park, Birdham Road, Chichester, West Sussex PO20 7DU / U.K.
    Tel: 01243 530630 / Fax: 01243 530730 / email: