M4tt_Envoy
Member
Registered: 26th Feb 06
Location: Swindon
User status: Offline
|
i have an interview on Tuesday for a job with the above pay.
does this affectively mean i'd be taking home 28k a year before tax?
Which is around £2333 a month?
Does the 5k car allowance get taxed?
|
Ste L
Member
Registered: 3rd Jul 06
Location: Manchester Drives: 106 16v Rallye
User status: Offline
|
yes car allowance get's tax iirc
|
Bart
Member
Registered: 19th Aug 02
Location: Midsomer Norton, Bristol Avon
User status: Offline
|
depending on how often you use your car for travelling, you may just be better off with the 5k cash
|
Rob H
Member
Registered: 28th Oct 00
Location: Staffordshire Drives: Astra SRi
User status: Offline
|
Depending on the job though, it may be that they expect you to use the 5k allowance towards a company car, i.e if your using a car to visit customers they'd want you turning up in a respectable car, not a 1983 Austin Maxi  .
|
M4tt_Envoy
Member
Registered: 26th Feb 06
Location: Swindon
User status: Offline
|
quote:
Originally posted by Rob H
Depending on the job though, it may be that they expect you to use the 5k allowance towards a company car, i.e if your using a car to visit customers they'd want you turning up in a respectable car, not a 1983 Austin Maxi .
I'm looking at getting a loan and then getting a BMW 330 or something along those lines
I'm sure they said there is a 5 grand car allowance a year, which averages out to £400 which should easily cover a £10,000 loan
|
Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
|
Yes you are effectively on £28k pa but have to service your own car costs, liek most people then lol
But agreed with Rob H, some companies (Vodafone incl) stipulate that the car you use for certain roles must be up to a certain std altho most people who they say that too therefore get company cars as they are essential users
|
JM_16v
Member
Registered: 17th Oct 05
Location: Essex Drives: GLC63S
User status: Offline
|
The other advatages you have is with car allowance your be taxed at the same rate.
IF you had a COMANY CAR then the tax rate would go up so you would have your 23k but would get taxed a much higher percentage
|
Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
|
No it wouldnt 
The car benefit is worked out then deducted friom your tax free allowance via your tax code... this may mean you end up breachign the 40% limit but not in this example
|
Natalie
Member
Registered: 5th Nov 03
Location: Oxfordshire Drives: Vauxhall Tigra 1.8
User status: Offline
|
^ what he said
|
M333KS D
Member
Registered: 15th Mar 04
User status: Offline
|
quote:
Originally posted by M4tt_Envoy
quote:
Originally posted by Rob H
Depending on the job though, it may be that they expect you to use the 5k allowance towards a company car, i.e if your using a car to visit customers they'd want you turning up in a respectable car, not a 1983 Austin Maxi .
I'm looking at getting a loan and then getting a BMW 330 or something along those lines
I'm sure they said there is a 5 grand car allowance a year, which averages out to £400 which should easily cover a £10,000 loan
got a nice 330 for sale here, wink wink ha ha, but seriously though, i have 
|
Rob H
Member
Registered: 28th Oct 00
Location: Staffordshire Drives: Astra SRi
User status: Offline
|
quote:
Originally posted by M4tt_Envoy
quote:
Originally posted by Rob H
Depending on the job though, it may be that they expect you to use the 5k allowance towards a company car, i.e if your using a car to visit customers they'd want you turning up in a respectable car, not a 1983 Austin Maxi .
I'm looking at getting a loan and then getting a BMW 330 or something along those lines
I'm sure they said there is a 5 grand car allowance a year, which averages out to £400 which should easily cover a £10,000 loan
I'd be waiting to see the stipulations in the contract before getting any ideas on a car. £400p/m sounds like a lot, but when they say you need a car under 3 y/o, need to do 15k a year, insure, tax and fuel the car yourself you'll soon start eating into your own wages (though TBH I probably wouldn't mind that too much anyway if it was a sweet car ).
|
