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Tax on Company car as part of Redundancy?

  • 26-04-2012 6:04pm
    #1
    burly
    Registered Users, Registered Users 2 Posts: 314 ✭✭


    Hi all,

    I am receiving statutory redundancy next month, but currently drive a company car, which I am hoping to secure as an ex-gratia bonus on top of the statutory payment which will around 7,000.

    As far as I am aware, my basic exemption ceiling is €14,000, and the caris valued at around 6,500 at the moment, so the total of the statutory and teh car value should be less than the exemption so it should be tax free for me.

    My question is this however, will my employer have to pay any tax on the sale/release of the company asset, i.e the car?

    Thanks


Comments

  • #2
    nompere
    Registered Users, Registered Users 2 Posts: 1,678 ✭✭✭nompere


    Your employer's tax position is hardly your concern.

    I can envisage circumstances where the employer might have a tax liabliity, or might have a tax deduction, or might be unaffected.


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