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Car Allowance - can someone explain this to me please?

  • 08-02-2008 9:52am
    #1
    Dub6Kevin
    Registered Users, Registered Users 2 Posts: 144 ✭✭


    I know this is a bit of a daft question but can someone please explain the concept of having a car allowance with a job?

    Is it paid in a lump sum or in addition to ones salary? Is it possible to lease the vehicle through the company? If one doesn't use the entire allowance on a car does the balance revert to the company or is it added to ones pay.

    Any insight will be welcome.

    Cheers


Comments

  • #2
    pclancy
    Registered Users, Registered Users 2 Posts: 3,941 ✭✭✭pclancy


    A company I worked for a few years ago didnt have company cars we all just got about £150 each month on top of our salary, regardless of the mileage we had done. I cant remember what way it was taxed tho....


  • #3
    qwertz
    Registered Users, Registered Users 2 Posts: 1,726 ✭✭✭qwertz


    Usually you receive a car allowance to compensate you for providing your own private car for business use. You will cover all costs including fuel, tax, service and repairs (in case of an accident or damage). You (probably) won't receive mileage. The car allowance is fully taxable depending on your tax band. Make sure you upgrade your insurance to cover for business travel (there are different levels).


  • #4
    Dub6Kevin
    Registered Users, Registered Users 2 Posts: 144 ✭✭Dub6Kevin


    Cheers lads.


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