PAYE (2)

Question 1

When an employee is provided with employer’s assets for private purposes?

Answer 1

Gives rise to a taxable benefit

Question 2

Employer’s assets for private purposes taxed at higher of?

Answer 2

20% of value when first made available to employee

Rental paid by employer

Question 3

How is 20% charge time apportioned?

Answer 3

When asset is provided for only part of the year and is reduced by any contribution made by the employee

Question 4

Greater of asssessment if asset is subsequently given to the employee

Answer 4

Market value when given

Market value when first used - amounts taxed as taxable benefits up to date of gilt

Question 5

How is furniture in accommodation provided by an employer taxed?

Answer 5

20% charge time-apportioned

Question 6

How are mobile phones taxed?

Answer 6

They are exempt but this exemption is limited to one mobile phone per employee

Question 7

How is an additional mobile phone taxed?

Answer 7

At 20% of cost plus any running costs paid by the employer

Question 8

How are bicycles taxed

Answer 8

Are exempt from private use benefit rules

Question 9

Company cars taxed?

Answer 9

Employees are taxed on company cars provided for private use, but not on pool cars

Question 10

Percentage that applies to electric cars with zero CO2 emissions?

Answer 10

2%

Question 11

Hybrid electric cars with emissions between 1 and 50 g/km CO2 percentage (130 miles or more)

Answer 11

2%

Question 12

Hybrid electric cars with emissions between 1 and 50 g/km CO2 percentage (70-129 miles)

Answer 12

5%

Question 13

Hybrid electric cars with emissions between 1 and 50 g/km CO2 percentage (40-69 miles)

Answer 13

8%

Question 14

Hybrid electric cars with emissions between 1 and 50 g/km CO2 percentage (30-39 miles)

Answer 14

12%

Question 15

Hybrid electric cars with emissions between 1 and 50 g/km CO2 percentage (less than 30 miles)

Answer 15

14%

Question 16

Petrol cars with emissions up to 55 g/km CO2 percentage (51 to 54 gram per km)

Answer 16

15%

Question 17

Petrol cars with emissions up to 55 g/km CO2 percentage (55 gram per km)

Answer 17

16%

Question 18

Diesel cars percentage supplement if not meet RDE2 standard?

Answer 18

4%

Question 19

Maximum percentagr for petrol and diesel cars

Answer 19

37%

Question 20

Any optional accessories fitted to the car?

Answer 20

Any cost at £100 is also included in price of the car

Question 21

Any capital contribution made by director/employee?

Answer 21

Is deducted from list price up to a maximum deduction of £5000

Question 22

How is any contribution for the use of the car treated?

Answer 22

It’s deducted from the value of the benefit

Question 23

How is the benefit pro-rated for cars?

Answer 23

If car is not available for use throughout the tax year

Question 24

When emissions are above 55 g/km?

Answer 24

Need to calculate relevant percentages to apply to list price

Question 25

Fuel provided to users of company cars taxable benefit?

Answer 25

A percentage of £27800

Question 26

Similarities with car benefit and fuel benefit?

Answer 26

Percentage used is the same and both are pro-rated

Question 27

When is there no reduciton in taxable benefit for car fuel?

Answer 27

Partial refunds made for private cost of fuel by the employee

Question 28

When is charge cancelled for there no reduciton in taxable benefit for car fuel?

Answer 28

If full refunds are made

Question 29

Vans producing zero CO2 emissions

Answer 29

Have a 0% benefit

Question 30

For vans with CO2 emissions above zero?

Answer 30

There is a standard benefit of £3960 a year for employees with private use of a company van

Question 31

Private fuel provided for a van charge?

Answer 31

An additional charge of £757

Question 32

How does a van differ to cars for taxable benefit?

Answer 32

There is no taxable benefit where an employee takes a van home