Company car tax

natanddan1

Can someone give me a little advice please.

I have a company car and fuel card
I currently average around 30,000 miles a year which is 95% business miles. Am i able to claim any tax back? or am i just wishful thinking.

Thanks in advance

scope

With a company car and fuel card you are taxed a set amount (depending on the car), and you are not able to claim anything back for business miles.. If you do 95% business miles I think you'll find you are taxed an awful lot for your private miles (if it is included).. With company car and fuel card you are better off (atleast you feel that way) the more private miles you drive, as you are always taxed the same (I was taxed about £3.500 on the fuel alone when I had company car with fuel card.)

edit: the above is if your petrol card also includes private fuel..

paulus

If you get fuel for private, as well as business, you get taxed on £14400 X CO2 emission factor. If this factor is say 30% you will be taxed on £14400 X 30% = £4320. If your private mileage is only 1500 miles per annum you are paying significantly more in fuel tax than the private fuel is worth. Assuming you are paying tax at 40% the private fuel is costing you in tax £1.15 per mile. You need to agree with your employer that you make good the cost of private fuel (HMRC provides advisory rates to use) and eliminate the additional fuel benefit tax. This should also be of benefit to your employer as he will save additional Class 1A NICs.