Has anyone done an evaluation on when you are better off to take an allowance rather than a car with respect to the new situation on BIK where we will be subject to PRSI from January 1 2004
I did a few sums for my own benifit earlier this year & in my situation, there was no question about it - clearly, the car allowance was the way to go.
Unless your:
- doing lots of milage
- carrying an expensive car insurance premium, you'd rather have your employer pay each year
- getting a particularly nice company car & really want it, even at a personal financial cost to you
I'd go for the car allowance.
Mind you, a few sums should help you reach your own decision fairly quickly