Fuel Tax - P11D

no_more_cards_for_me

How is the tax calculated, I have a BIK for fuel of £3852 - assuming a 40% tax payer is it just 40% of this total ?

bootman

If you had a tax calculation done, it would show total pay plus BIK all added together as income then taxed.

Bean_Counter

no_more_cards_for_me wrote: »

How is the tax calculated, I have a BIK for fuel of £3852 - assuming a 40% tax payer is it just 40% of this total ?

Is this fuel provided for a company car or fuel provided for you private car?

computerbar

when you say you have BIK of £3852 I presume you have private use of your company car.

The taxable amount is based simply on £16,900 multiplied by the same percentage derived from the CO2 figure and fuel type.

theoretically in your case it is about 23% (£3852/£16900x100)

As you are high tax payer you would pay £3852x40%=£1541. (it is like using about £30 (1541/52) fuel a week.).