RSS Company Car Tax
Benefit in kind tax, or company car tax as it is sometimes referred to, is designed to do two things.
Firstly, to reflect the benefit of having access to a vehicle for private use and secondly, to encourage drivers to choose more environmentally-friendly cars because the tax charged is directly related to the carbon dioxide level a car produces. The Government has put green issues high on its agenda, so encouraging use of cars that reduce emissions helps meet its environmental targets. Basically, company car drivers pay tax on a percentage of the value of the car. The value of the car is calculated as the new price published by the manufacturer, plus VAT, delivery, number plates and any optional extras. This is called the P11D value. The driver is then liable to pay tax on a percentage of the P11D value decided by the carbon dioxide emissions of the car.
For more information on company car tax, either click on the buttons below or read more in the company car tax articles posted below.
24 February 2010 11:30
Provision of free fuel for private mileage has faced repeated attempts to curtail it during the last 10 years with a very small percentage of employees being offered the perk.
24 February 2010 11:10
Companies are liable to pay Class 1A National Insurance contributions where staff are provided with vehicles on which they are taxed for private use.
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How is fuel purchased at your company?
We issue drivers with a weekly fixed price fuel card: 9.5 %
We issue drivers with a pump price fuel card: 28.6 %
We do fuel hedging (fixing the price of fuel for up to a year): 9.5 %
We use Platts pricing: 9.5 %
We have a pay and reclaim system: 33.3 %
We have fuel bunkers at our site(s) : 9.5 %
Thousands of illegal company drivers in the UK, says Licence Bureau15/05/2012
GreenRoad delivers driver performance app 15/05/2012
No RV fears over BMW Olympic fleet15/05/2012
Scrap metal thieves continue to target company vehicles 15/05/2012
Concept aims to add value with accident assist 15/05/2012
Volkswagen introduces standard DAB radio from Polo to Phaeton16/05/2012
Incentives ‘must continue’ for EV future15/05/2012
Air Products calls for Government help15/05/2012
Lack of basic driving skills causes most vehicle damage, says E-Training World 15/05/2012
Ogilvie Group and Active Stirling join forces14/05/2012
RBS signs deal with ALD as it closes Lombard Vehicle Management07/02/2012
New advisory fuel rates (AFRs) announced by HMRC28/02/2011
Fleets face six-figure tax bills on mileage claims03/03/2011
New Advisory Fuel Rates announced28/02/2012
Alphabet buys ING Car Lease 08/07/2011
Crash alert system launched16/11/2010
Firms may turn to outright purchase15/11/2010
Deloitte warn of tax ruling impact for salary sacrifice01/08/2011
ING in talks to sell Car Lease22/06/2011
Arval sells fuel business to FleetCor 13/12/2011
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Company car tax explained with Fleet News.
All the information and guidance you need about company car tax for your fleet, find out more about company car tax, benefit in kind and legislation surrounding your fleet. Use the Fleet News company car tax calculator to calculate the company car tax for your fleet and find out more about how benefit in kind can affect your business.