JAYMAC

Hi,

Just working out our finances for our move ( in about 6 weeks time!) and wondering how tax rebates are calculated. I know hubby will be due to a rebate as he left work last month but I am not sure whether I will be due to much back because I have had a company car and therefore don't have much tax free allowance. Does anyone know how this is worked out as I can't get my head round it. (Let's just say I am trying to work out whether I can afford to hand my notice in yet!).

Thanks a lot

Jaymac

Sandra

You need to talk to your payroll department as only they will know how your personal taxation is being affected by their processes. Some people are upto date and the tax code being used currently is enough to ensure that they are paying the correct amount of tax even with the company car. But because mileage affects the taxation of the car and whether you get petrol allowance etc can all change the taxation affect especially if some of these items are reported in arrears.

If the payroll office cannot help phone your own tax office and ask for some general advice.

Cheers

PS if you need general advice the IR website on cars is pretty ok and does have a calculator

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

JAYMAC

Thanks for your reply Sandra.

Jaymac