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**VomsVomaMew** · 05-28-2011, 10:19 PM

You'd just have to buy your polo shirts from Primark.

Company cars are a very nice perk though. Does it work like... tax band (as percentage) * price of car = extra earnings. Extra earning taxed at say, 40% ???

So 13% of £30,000 = £3,900

£3,900 /12 = £325 a month. Taxed at 40% = £130.

So just the £130 is deducted as tax?

I work for a limited company so it's may be different in the the public sector but my payslip has income tax and BIK tax.

I know I pay tax at 40% on 13% of the car which comes to about £140 a month. Actually, it's slightly less as I have another BIK tax I forgot about.

I specifically chose a low c02 engine though at the sacrifice of a bit of power. The next band (120 g/m co2 takes it up to 18% tax).

I couldn't be seen in Primark! (kidding - I get quite a few things from there).

05-28-2011, 10:19 PM	#34
VomsVomaMew Join Date Nov 2005 Posts 470 Senior Member	You'd just have to buy your polo shirts from Primark. Company cars are a very nice perk though. Does it work like... tax band (as percentage) * price of car = extra earnings. Extra earning taxed at say, 40% ??? So 13% of £30,000 = £3,900 £3,900 /12 = £325 a month. Taxed at 40% = £130. So just the £130 is deducted as tax? I work for a limited company so it's may be different in the the public sector but my payslip has income tax and BIK tax. I know I pay tax at 40% on 13% of the car which comes to about £140 a month. Actually, it's slightly less as I have another BIK tax I forgot about. I specifically chose a low c02 engine though at the sacrifice of a bit of power. The next band (120 g/m co2 takes it up to 18% tax). I couldn't be seen in Primark! (kidding - I get quite a few things from there).
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