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louise.cook3

What is the annual value of a work vehicle that has full personal use? And with no personal use?

jbiddle

There is no set amount, it depends on the overall salary and benefits package being offered.

You would be better to seek the opinion of an accountant on this topic.

alasta

You could work this out yourself by judging how much mileage you would be doing for personal use and multiply by the current applicable per km cost for that particular vehicle (I believe that the AA publishes cost per km figures). That per km cost may exclude some fixed costs such as depreciation, insurance and registration which you'd need to add on. Without knowing the specifications of the particular vehicle it's hard to give actual figures.

The important thing to remember is that your salary attracts income tax, whereas a benefit such as a company vehicle would attract fringe benefit tax which is typically paid by your employer rather than yourself. Therefore, the value of a company car benefit would be directly equivalent to an after tax salary increase of the same amount.