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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I earn £4237.92 before tax each month and use a company car

Resolved Question:

I earn £4237.92 before tax each month and use a company car at a value of £35k, what would I expect to pay in Tax each month
Submitted: 3 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 3 years ago.

Hello and welcome to the site. Thank you for your question.

Please advise vehicle CO2 emissions figure and fuel type (petrol or diesel)

Many thanks

Customer: replied 3 years ago.
Diesel , Co 2 136 , cost of. Vehicle is £33775
Expert:  taxadvisor.uk replied 3 years ago.

David, thank you for your reply and for additional information...

Car benefit charge for the full year based on information provided will be £7,768 (monthly equivalent £747).

Your total gross monthly income inclusive of benefit in kind becomes (4,238+747) £4,885.

Gross pay = 4,885
Tax free pay = 833.33
Total taxable = 4,051.67
Tax due = 1,089.58
Employee NI = 366.97
Total deductions = 1,456.56
Net pay = £3,428.44

More information on car benefit calculations can be found here

http://www.hmrc.gov.uk/calcs/cars.htm

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

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Expert:  taxadvisor.uk replied 3 years ago.
I thank you for accepting my answer.

Best wishes