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Financial compensation vs. Company Car

Wavey · 2009-11-04 17:27:53

Evening all, At the moment I pay BIK on my company car. I pay 30% of 90% of the book value of the car per annum. This adds up to about 108% of the value of the car over the 4 year lease. This can be up to €700 per month. If the car is worth €30,000, how can I work out the salary increase that would compensate me if I were…

04-11-2009 6:27pm

#1

Wavey

Registered Users, Registered Users 2 Posts: 861 ✭✭✭

Join Date: January 2003

Posts: 577

Evening all,

At the moment I pay BIK on my company car.
I pay 30% of 90% of the book value of the car per annum.
This adds up to about 108% of the value of the car over the 4 year lease.
This can be up to €700 per month.

If the car is worth €30,000, how can I work out the salary increase that would compensate me if I were to supply my own car?
Any salary increase would be in the high tax band.

Thanks,
Wavey.

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