Fleet News

High cost of tax return errors

HM Revenue & Customs has revealed the three most common mistakes that are costing companies and their drivers’ money:

  • Fleets not using the P11D price of a vehicle for tax purposes, but instead using the actual purchase price.
  • Not realising that new Euro IV diesels no longer avoid the 3% tax levy imposed on those vehicles and still taking off the amount when submitting returns.
  • Using incorrect CO2 emissions to calculate drivers’ tax bills, especially rounding the figure up to the nearest band level, rather than down.
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