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Company car and fuel benefit calculator

HMRC has updated its on-line calculator for recent changes to the benefit rules.

As you are, no doubt, aware where a company car is made available for private use a ‘benefit in kind’ value has to be calculated in relation to the car, and fuel if any fuel is also provided for private use.

HMRC’s calculator:

• allows you to calculate the benefit in kind value of a company car and, if appropriate, the car fuel benefit; and also
• provides an indication of the income tax you would be liable to pay on the benefits.

The site also provides information about future changes to car and fuel benefits.

 

 

Date: 18th January, 2013
Author: Cathy Corns

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