Car benefit calculator
When a company car is made available for the private use a benefit in kind is calculated in relation to the car, and any fuel provided for private use.
HMRC’s website provides a calculator function that:
allows you to calculate the benefit in kind value of a company car and, if appropriate the car fuel benefit; and
provides an indication of the income tax you would be liable to pay for the provision of company car and car fuel benefit.
The calculator covers the years 2009/10 to 2014/15.
It is a relatively simple tool and it helps to know the cost of a benefit.
To access the calculator, click onto HMRC’s website.
Date: 24th January, 2014
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