Company Car And Fuel Benefits Flashcards
(14 cards)
What happens if the employee does not have the car for the whole tax year?
The benefit is time-apportioned
When do non-availability deductions apply?
If the car is off the road for 30 days
What is the formula for calculating the taxable benefit where fuel is provided for private motoring?
£27,800 x % (based on CO2 emissions)
Can fuel benefits be reduced by employee contributions?
No
Can fuel benefits be time-apportioned?
Yes, if appropriate
Is electricity considered a fuel for tax benefits?
No
What is an exempt benefit regarding electric company cars?
Providing a workplace charging point or paying for a vehicle charging point to be installed at an employee’s home
What happens if the employee does not have the car for the whole tax year?
The benefit is time-apportioned
When do non-availability deductions apply?
If the car is off the road for 30 days
What is the formula for calculating the taxable benefit where fuel is provided for private motoring?
£27,800 x % (based on CO2 emissions)
Can fuel benefits be reduced by employee contributions?
No
Can fuel benefits be time-apportioned?
Yes, if appropriate
Is electricity considered a fuel for tax benefits?
No
What is an exempt benefit regarding electric company cars?
Providing a workplace charging point or paying for a vehicle charging point to be installed at an employee’s home
