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Hi, I would like to gain some confirmation from experts as to how BIK tak will impact my take home pay. I currently take a cash car allowance but am considering taking a company car. I would like to know how i can calculate my take home pay when introducing BIK. Am i correct that: for example: Current Salary is £50,000 Current Tax Code = 887L (£8,870) Taxable pay is = £41,130 (£31,865 @20% and £9,265 @40%) To calculate the BIK impact do I just decrease my personal allowance by the annual BIK in this case £2,352 so new calculations will be: Current Salary is £50,000 Personal Allowance = £6,518 Taxable pay is = £43,482 (£31,865 @20% and £11,617 @40%) thus increasing the amount of tax i pay at 40%. I will obviously take into account NI as well as other benefits and reduce my car allowance amount. But, is this approach correct? Appreciate your help on this

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