I am a representative of semi-retirement., 68 years old and have to use a company car. My opinion reflects the consolidation that the car and fuel, a total of £ 9,018 benefits, I also have a private health insurance with my employer.
Recently, I asked the fact that at my age, you should supplement has been reduced, and was told by HMRC that all the above benefits have been added for my salary to get my total income for calculating allowance based on age.
Is that correct? I thought that only wage income and investment income were used for this calculation. If HMRC are correct, then I am paying twice for these services: in my tax code, and again in the reduction of my personal performance.
Yes, all taxable income is taxable account in deciding what age allowance is payable. You pay no taxes on profits twice – they are in your code, because the withholding tax can be deducted from them.