Company Car Scheme - Opting Out

I don't know of any, but this is a very complex calculation which is oft discussed in uk.business.accountancy

This Google search:

...and similar will give you something to think about.

Thanks Troy

I've used for this purpose before when I accepted a new job.

As it happens I decided to go for the company car despite high taxation for two main reasons;

1) low personal mileage - I did not have my own car, so opting out of the scheme would imply buying a car complying with 'representative' and other criteria 2) flexibility - the only reason for keeping my own car would be this job.

As it turned out, they made me redundant after six weeks so in retrospect the 'flexibility' of the company car suited me fine and I would have been well pissed off if I'd signed a three year PCP or whatever they're called..

Depreciation is the big bugger methinks.

Thanks Thomas

Hi,

A lot depends on the mileage you do. I had the same choice a few years back and opted out of a company car. At the time I was doing about 20k a year, but then suddenly that shot up to well over 30k. 3 years later you could find yourself with a car with well over a 100k on the clock. Pretty worthless on the secondhand market. And don't forget servicing, tyres, repairs etc all come out of your own pocket if you opt out.

My advice would be stick with a company car. Yes, the tax is a nightmare, but > Thanks Thomas