Chapter 17 - Company Car & Fuel Benefits Flashcards
True or false
The employee will have a taxable benefit in respect of the car itself
False
The employee will have a taxable benefit in respect of the private use of the car
What is the threshold for adding accessories to a car if it was added after the car was first made available
£100
What is the maximum deduction for capital contributions?
£5,000
What is the maximum %
37%
How do you work out the basic cash equivalent for a car?
List price x Co2%
What is the % for zero emissions?
2%
What is the % for a car with an electric mileage range of 130 or more?
2%
What is the % for a car with an electric mileage range of 70-129?
5%
What is the % for a car with an electric mileage range of 40-69?
8%
What is the % for a car with an electric mileage range of 30-39?
12%
What is the % for a car with an electric mileage range of less than 50?
14%
What is the % for a car with CO2 emissions g/km of 51-54?
15%
What is the % for a car with CO2 emissions g/km of 55-59?
16%
What is the % for a car with CO2 emissions g/km of 60-64?
17%
What is the % for a car with CO2 emissions g/km of 65-69?
18%
What is the % for a car with CO2 emissions g/km of 70-74?
19%
How do you work out the percentage for CO2 emissions of 75g/km or more?
[(emissions -75)/5] + 20
True or false
The percentage can never exceed 45%
False
The percentage can never exceed 37%
For tax purposes, we round down g/km figures to what?
The nearest 5
An additional what % is added for diesel cars?
4%
What is the calculation for the taxable benefit of fuel?
£27,800 x % based on CO2 emissions
True or false
Workplace charging points are considered a taxable benefit
False
