MK5 Golf GTI
General => Random Chat => Topic started by: r5gtt on May 24, 2016, 11:19:01 pm
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As above is there a catch to these deals as my niece was asking me but i ain't got a clue. :stupid:
The company she works for are offering the staff a fully maintained car and you just add fuel and a monthly payment?. are there any hidden taxes to pay or anything she needs to know about.
Thanks
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We have a similar scheme at work. Called Fuel & Go.
Essentially it is a lease car scheme which is done via Salary Sacrifice. So you pick the car and the payment is deducted before they apply tax & NI. Therefore lowering the amount of tax you pay and saving you money.
The car will be full maintained down to tyres, servicing etc.
As this is classed as a benefit she will also get Company Car Tax applied which will lower her Tax allowance depending on engine size, emissions. Usually these schemes don't offer any 'hot' cars.
I have one myself. Due to being in the 40% tax bracket it drops me out of that bracket and the savings worked for me. Some cars didn't and some did. We have a Audi A1 TFSI S Line and it costs me £242 a month all in with the company car tax.
Good scheme if the figures stack up for her. Bear in mind this is leasing so she will not own the car at the end of the term. There is also no deposit.