Employment (Revision notes) Flashcards
1
Q
Calculation, diesel and max %
Car benefit calc
A
Taxable benefit: (price - capital contribution) x CO2 % - running cost contribution
CO2 > 55g/km: 16+(CO2 - 55)/5
Diesel: add 4%
Max % = 37%
2
Q
Fuel benefit calc
A
£25,300 x CO2 %
3
Q
Accomodation benefit calc
A
Annual value + (cost -75k) x 2% - employee contributions
Cost= cost price + capital improvements
If bought >6 years before e’ee moved in, use MV of when employee moved in
4
Q
calc
Private use asset calculation
A
20% of MV when first provided
If e’ee acquired asset, additional BiK = lower of
- Original MV - BiK to date
- MV when acquired
5
Q
Cheap Loan
A
Loan value x 2% - actual
Not taxable if loan <£10k
Use lower of strict and average method for loan valuez
