worth losing company car?

S

serendipity

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I currently earn 49,950, have a company car and paid VHI. Both benefits increase my taxable monthly income by 814 per month. I do have a fuel card that pays all of my work and personal milage.

I am currently looking at a new position, salary is 80,000 but no company car. This company will pay full family health insurance which we currently pay ourselves for my husband and children

Obviously the increased basic salary is dramatic and would in theory mean that I would be far better off - losing the car would mean that I lose the BIK paid.

Is the increased salary and reduction of BIK worth it to lose the company car and fuel card considering that fuel prices are going to keep going up?
 
On that increase in salary, it certainly looks like it is worth it (you'd need to estimate the actual running cost of the car [less cash saving of VHI] to be able to say definitively and compare those values against the post-tax salary increase) but you can try my spreadsheet [2007 file format] at http://taxcalc.eu/monthlyss to calculate the details.

If you need a hand leave a message on this thread or PM me.
 
Thanks for the reply deadlyduck, appreciate the spreadsheets. Everytime I look at the pump prices the cost of fuel prices is increasing, I just do not want to regret giving up the fuel card in the future. Hard to predict the future though!
 
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