Chapter 3 - 2.4 - Cars Provided for Private Use Flashcards
1
Q
What does a single car benefit charge cover?
A
The running costs of the car including insurance, maintenance and road tax
2
Q
When is a separate benefit taxable?
A
If the employer provides private fuel for the car
3
Q
What is the equation for car benefit?
A
Car benefit = Manufacturer’s list price x Co2 emissions %
4
Q
What happens if the employee contributes towards the cost of private use of the car?
A
This contribution is deducted from the taxable benefit
5
Q
What is there no car benefit for?
A
Incidental private use of genuine pool cars
6
Q
What is the Co2 emissions % for zero-emission cars?
A
2%
7
Q
A
