Company Car Tax

[mjweb123]

Hi Guys,
This is a bit of a minefield for me, I am looking into a new job at the moment and that job includes a company car. I have looked at websites but I don't really understand how the tax side of things works.
I have been told the car is a VW Passat and all expenses are covered.

How much tax would I pay? (I know this is open ended, just after an idea)
Is it taken from my salary or deducted annually? ie declare at end of tax year
Am I taxed on fuel?

Any pointers or guidance would be appreciated, its all new to me!

Cheers
M

[elainec100@cheapaccounting]

This is a good site for company cars:

http://www.comcar.co.uk/

[lucy*tenable]

It all goes on the value and emissions of the car. Your tax code will be adjusted accordingly.

Fuel depends on how the company pay it. If you get your petrol paid then again you will be taxed on this and your code will change. Or if they request you pay for your own mileage they will deduct an amount from your wage.

I am by no means an expert on this - i just had a company car. I was shocked at how much my tax code was reduced by to be honest :eek:

Everyone thinks of a company car as a huge perk - not really as you pay for it.

Hope this helps :)