Business is telling me I am not getting a new company car and will be getting a car allowance instead. What are my options?
Hello.
I am coming up to the end of my 4 year lease I have had on a car provided by my business.
The p11d value is £39,950 and is a PHEV with a BIK rate of 14% costing me around £93 in tax per month.
The business has now stated that I am to not get a new company car and recieve £600pm in a car allowance. Of which I believe I will keep £348 after tax and NI etc.
According to my contract I have had in place for 11 years
“Whilst you continue to perform a role which requires use of a vehicle we shall supply you with a vehicle of such make and model and value determined by us”
I am a sales manager and as such visit customers and clients on a weekly basis and as such still require a vehicle to get around.
I am willing to compromise to some extent if they are completely unwilling to start a new lease. Despite the lease costing less per month than is spent on the car allowance.
What extra salary increase would I need to offset this?