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Car, Van and Fuel Benefits
Company cars 2017-18
|CO2 emmissions (gm/km)(round down to nearest 5gm/km)||% of cars list price taxedPetrol||% of cars list price taxedDiesel|
|Up to 50||9||12|
|210 and above||37||37|
A 0% rate applies to cars which cannot emit CO2 when driven.
Special rules may apply to cars provided for disabled employees
For cars registered before 1 January 1998 the charge is based on engine size.
The list price includes accessories and is not subject to an upper limit.
The list price is reduced for capital contributions made by the employee up to £5,000.
Car Fuel Benefit 2017-18
£22,600 x ‘appropriate percentage’*
*Percentage used to calculate the taxable benefit of the car for which the fuel is provided.
The charge does not apply to certain environmentally friendly cars.
The charge is proportionately reduced if provision of private fuel ceases part way through the year. The fuel benefit is reduced to nil only if the employee pays for all private fuel.
Van Benefit Per Vehicle 2017-18
Van benefit £3,230
Fuel benefit £610
The charges do not apply to vans which cannot emit CO2 when driven or if a ‘restricted private use condition’ is met throughout the year.
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 and a 5p supplement for a passenger. Income tax and NICs may be due on higher rates and tax relief may be available on lower rates. Rates for Bicycles are 20p and for Motorcycles are 24p
- Key Points Spring Budget 2017
The Spring budget was presented by Mr Philip Hammond on 8th March 2017.
A summary of the main points are noted below:
Class 4 National Insurance to increase from 9% to 10 % in April 2018 and to go up to 11% in April 2019. All class 4 earnings above £43,000 will continue […]
- Married Couples Allowance
Transfer unused tax allowance to save up to £212.00 in tax year 2015/16
If you are a married couple or are in a civil partnership, you may qualify for couples tax relief worth up to £212 in 2015/16.
Who does this apply to?
This tax relief is available to married couples and couples in a […]
- Budget 2016 – Key Points
Sugar levy on soft drinks
This aims to raise £520m in a two-part levy on companies – one for total sugar content above 5g per 100ml and one for drinks with more than 8g per 100ml – to be introduced in two years’ time. Pure fruit juice and milk are excluded. It will be used […]
- National Living Wage
The 1 April 2017 the National Living Wage (NLW) for workers aged 25 and above will increase to £7.50 per hour. The current National Minimum Wage for those under the age of 25 will continue to apply and the rates set from 1 April 2017 can be found here National Minimum Wage Rates .The Government’s objective is to have a […]
- Autumn Statement 2015
Tax credits will now remain unchanged, after having lost a key vote on the House of Lords
The rate of Housing Benefit in the social sector will be capped at the same rate as is paid to those in the private rented sector.
Money will be spent to […]
- Key Points Spring Budget 2017