Company Cars and Vans
Company car benefit is calculated by applying the appropriate percentage (based on the car’s CO 2 emissions – see table below) to the car’s UK list price. CO 2 emissions (g/km) Appropriate % CO 2 emissions (g/km) Appropriate % Petrol Diesel Petrol Diesel 0 - 50 9 12 150 - 154 29 32 51 - 75 13 16 155 - 159 30 33 76 - 94 17 20 160 - 164 31 34 95 - 99 18 21 165 - 169 32 35 100 - 104 19 22 170 - 174 33 36 105 - 109 20 23 175 - 179 34
110 - 114 115 - 119 120 - 124 125 - 129 130 - 134 135 - 139 140 - 144 145 - 149
21 22 23 24 25 26 27 28
24 25 26 27 28 29 30
180 - 184 185 - 189
35 36
37
190 and above
37
31 Company car fuel benefit is charged unless the cost of all fuel for private use is borne by the employee. The taxable benefit is calculated by applying the appropriate % to the car fuel benefit charge multiplier (£22,600). Where VAT is to be reclaimed on fuel for private use, the employer also has to account for output tax based on a flat rate charge derived from the vehicle’s CO 2 emissions. Company van benefit is generally not related to CO 2 emissions but is a set figure of £3,230 with an extra £610 where fuel for private use is provided. Van benefit charge for zero emission vans £646. Employees using their own cars for business: Approved mileage allowance payments are 45p per mile for the first 10,000 miles in the tax year and 25p thereafter. Income tax and NICs may be due on higher rates and tax relief may be available on lower rates.
Value Added Tax From
1 April 2017
Standard Rate VAT Fraction Reduced Rate
20%
1/6 5%
Current Turnover Limits
Registration
– last 12 months or next 30 days over
£85,000 from 1 April 2017 £83,000 from 1 April 2017
Deregistration – next year under Annual and Cash Accounting Schemes
£1,350,000 £150,000
Flat Rate Scheme
FOR ELECTRONICUSEONLY
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