Company Cars
Some employers offer a car or van for the private use of a director or employee. This can sound fantastic but unfortunately you are still required to pay tax on the car. The amount you pay out is strictly linked to the amount the car is used for work. Generally, the more miles you clock up on business, the less tax you pay - up to a limit.

In the worst-case scenario, you'll pay tax on 35% of the value of the car when new. So, if the car costs £20,000, you'll pay tax on £7,000 of that. This only happens if you drive less than 2,500 miles for work. But if you drive more than 2,500 miles, that figure drops to 25%; and, if you clock up more than 18,000 miles, to 15%.

If you already own a car, you may be offered a cash allowance instead. This is paid as part of your salary. Generally, if you don't expect to drive a lot, this is the better deal.

Mobile Phones
You may be offered a mobile phone to use for work related calls. Be sure to clarify with your employer what it is they will pay for, mobile line rental, text messaging, personal calls, etc.

Pension Plans
Old age may seem a long way away but by the time you reach your 60's there may no longer be a state pension. To make provision for your old age it is advisable that you invest into a private pension plan.

Larger companies may offer its employees the benefit of a company pension scheme. If the employer is a particularly large organization, it may even appoint a fund manager in the City of London to handle its pension fund.

Traditionally there are two main types of occupational pension scheme in existence:

Investing in a private pension plan is one of the most tax efficient things you can do with your money. If you invest substantially and if investment returns over the period are good, and inflation is low, a nice nest egg can be accumulated for your old age.