Car Benefit Calc

Question 1

Income tax

Value of vehicle as a percentage of CO2 emissions for car reg after 6 Apr 2020

Answer 1

Base rate 15% for emissions at 55g/km rising in 1% increments for each additional 5g of CO2

Max 37%

Question 2

Value of taxable benefit of beneficial loan from employer is differnece between rate of int paid and official rate

Answer 2

E.g. £18000 x (2%-1%) =£180

Question 3

Fuel benefit

Answer 3

Same percentage as g per kg but based on fixed figure of £24600

Question 4

Child benefit tax charge

Answer 4

1% of the amount of child benefit received for every £100 of income over £50,000

Divide child ben by 1% and excess over £50k by 100