tax return car benefit

linzdelene

Hi there, this is probably very obvious but i just wanted to check!

i am trying to work out the car benefit for my 2002 rav4.

I bought the car 2nd hand in 2005, and its CO2 emission is 190.

I'm not too sure whether i look at the 2002 or 2005 percentage?

Thank you for your help!

roger_c

Sorry, but you are going to have to give some more details.

What tax year are you trying to calculate the benefit figure for? What is the list price (price new in 2002) + accessories of the car, and is it petrol or diesel?

Think if you provide that someone will get back to you.

jennifernil

If you have bought it then how can it be a benefit?

linzdelene

Thank you roger-c

I'm trying to work out for the tax year 2005-2006

The car is Toyota RAV4 - 2.0 VX 5d diesel 2002/02 (no accessories) and was listed at £19695 brand new.

Thank you!

Hoddie_2

HMRC helpsheet IR203 has a working sheet for this situation. If the car was Euro IV compliant, the benefit value would be 4923, if it wasn't it would be 5514 (at least by my calculations, please check them yourself using the helpsheet).

roger_c

jennifernil wrote:

If you have bought it then how can it be a benefit?

Quite right. Linzdelene do you you mean your company (not self-employed, partnership business) purchased the car? Or did the company you work for buy the car from you?

HMRC helpsheet IR203 has a working sheet for this situation. If the car was Euro IV compliant, the benefit value would be 4923, if it wasn't it would be 5514 (at least by my calculations, please check them yourself using the helpsheet).

I'm not sure if the Euro IV compliance rule applies to 2005/06. I know it has done in the past but it may just not apply from 2006/07 going forward.

Hoddie_2

I'm not sure if the Euro IV compliance rule applies to 2005/06.

A Euro IV compliant car first registered on or before 31 December 2005 would not incur the 3% surcharge normally applied to diesel cars for the tax year 2005/06.

linzdelene

I'm confused!

I am self employed so i think i've been going in the wrong direction.

I've just spoken to the self assessment helpline who have told me that i can claim for the price of the car as follows:

40% 2005-2006
25% 2006-2007
25% 2007-2008
10% 2008-2009

However, i do not use the car soley for self employment, does this make a difference?

I'm also confused about the mileage - the last couple of years i've been adding up the mileage and doing the 40p per mile up to 10,000 miles.
I thought this included car servicing, mot, new tyres etc. - have i also got that wrong?

I would get an account - but my self-employment income is sooo low!

reddevilled

If you've been claiming the 40p a mile then you can't really claim any more as it includes an amount for the "capital" of the car. Strictly speaking you should have claimed capital allowances and then put petrol costs etc through as well.

I would just carry on claiming 40 p a mile and put a note in the additional information box that this is what you have done.

Hoddie_2

If you've already used the 40p/mile then you cannot now switch to the capital allowance method until you next change your vehicle. You must continue to claim the flat 40p/mile.

shazzabot

i work part time 22hrs for a home care company i use my own transport to visit about 8-9 clients a day i get paid £6.00 per hour and the company state 15p of that per hour is travel expense could i caim and how for any more expenses: