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cars and fuel
Cars and Vans – Budget Update
Employer provided cars There are quite a few changes in the taxation of employer provided cars and the fuel benefit which applies if an employee does not pay for all of their private motoring. The car benefit charge incurred by employees who have an employer provided car is based on the list price of the [...]
Advisory mileage rates for company cars
HMRC routinely reviews the published advisory fuel rates every three months and the current rates, effective from 1 September 2011, are added to the Table below. With the exception of one of the LPG rates, there are no changes to rates that applied from June 2011. Employers may choose to: implement the new rates immediately [...]
Budget – Mileage allowance payments
For employees required to use their own car or van for work, the approved mileage rate for cars and vans will increase, from April 2011, to 45p per mile (up from 40p) for the first 10,000 miles in a tax year, and 25p per mile thereafter. For NICs purposes, the new limit is 45p per [...]
Budget – Company cars and vans
Appropriate percentage: For 2011/12, the appropriate percentages for company petrol cars range from 15% to 35% for emission ratings of 125 to 225 g/km. For 2012/13, the range, as already announced, will widen to between 11% and 35% for emission ratings of 100 to 220 g/km, with a fixed 10% for emission ratings below 100 [...]
New advisory fuel rates from 1 March 2011
HMRC reviews the published advisory fuel rates every six months. The most recent changes were introduced from 1 December 2010. In view of the increases in pump prices since December, HMRC has given notice that new advisory rates will be published shortly, to take effect from 1 March. Further information: Company cars – advisory fuel [...]
Shared use of company cars
On 13 December 2010, HMRC published a fourth consultation document to obtain views on the transfer of a number of Extra-Statutory Concessions (ESCs) into legislation. The purpose of the consultation is to ensure that the draft legislation successfully preserves the current tax treatment under the ESCs concerned. Only one of the seven ESCs presently under [...]
New advisory fuel rates from 1 December 2010
HMRC reviews the published advisory fuel rates every six months and the new rates, effective from 1 December 2010, are added to the Table below. Employers may choose to: implement the new rates immediately or use the old rates for up to one further month, and require employees to make supplementary payments if the new [...]
How do we prevent a pool car or van from being taxed as a company vehicle?
If a pool car or van, otherwise called a “pooled” car or van by HMRC, meets the statutory conditions, it is not treated as a company vehicle. As a result, the drivers using the vehicle are not liable for the car or van benefit and fuel charges. Meeting the conditions is therefore critical. In the [...]
