Company Car Tax Calculator - Excel

Geforce

Thanks to everyone for the comments and kind words, however I've removed the link due to lack of updates.

I've found this site which ok, isn't quite an excel spreadsheet, but it does calculate the tax with perfect accuracy as far as I can see.

http://comcar.co.uk/newcar/companycar/taxcalc/

Good luck to everyone in the future, and make sure that you don't let HMRC take too much money off you, so opt for a low BIK car !

ian103

looks good to me, certainly gives a good idea when picking a new car - only comment I would make is it would be nice to be able to put 'real' mpg figures in. OH has chosen a hybrid that lists as 70 odd mpg but in reality its more like 50mpg, her current car is diesel and it conservatively does 55mpg on a run.

Geforce

ian103 wrote: »

looks good to me, certainly gives a good idea when picking a new car - only comment I would make is it would be nice to be able to put 'real' mpg figures in. OH has chosen a hybrid that lists as 70 odd mpg but in reality its more like 50mpg, her current car is diesel and it conservatively does 55mpg on a run.

Hi, thanks for replying!

That's a great idea. I had a think about this last night and I've decided that an "MPG Correction figure" would be the best way forward. Hopefully that should suffice. Afterall, your point is valid that we all drive cars that manufacturers claim to do X MPG, but in reality this isn't the case, unless you're doing a steady 56mph for 30 miles each day on the way to work, then you just aren't going to achieve the claimed figures.

I've set the default to 15%, which is about right for most of the cars I've owned, but of course with it being a drop down list, you can change it to whatever you want - up to 30%.

If anyone requires or can think of any more amendments, please don't hesitate to drop me a line :-)

Cheers!

Geforce

Hi,

Just to let people know that the above sheet has been updated with the following:

Version 1.3 Change log:

- Hybrid Amendments for 2014/15 & 2015/16
- Tax Years 45% Additional Rate Added
- MPG correction fix for vehicle 2

hkminca

Is there a way of also factoring in employee contributions towards the car? My employer deducts a certain amount each month for personal use and I believe this is off set against the tax somehow?
All I know is I am paying way over in tax but HMRC refuse to admit they are wrong!!! Surely a 2010 clio estate 1.5 dci worth £16k when new and for which I pay £125om towards shouldn't be costing me £1220 a year in tax??? My p11D states £400 odd.
I have queried it so many times with HMRC and all they will tell me is it's correct but my tax has tripled in 3 years!

Geforce

hkminca wrote: »

Is there a way of also factoring in employee contributions towards the car? My employer deducts a certain amount each month for personal use and I believe this is off set against the tax somehow?
All I know is I am paying way over in tax but HMRC refuse to admit they are wrong!!! Surely a 2010 clio estate 1.5 dci worth £16k when new and for which I pay £125om towards shouldn't be costing me £1220 a year in tax??? My p11D states £400 odd.
I have queried it so many times with HMRC and all they will tell me is it's correct but my tax has tripled in 3 years!

Hi,

I've just put your figures in to the calculator, and if you're a 40% tax rate payer, £1250 a year in tax sounds absolutely spot on. However if you're a 20% basic rate payer, then it's obviously half as much.

I've updated the spread sheet above for you so you can see what your net cost for your car is.



I'd explain further in depth, but I'm shattered, and after these amendments on a Saturday evening, that's enough to fry anyone's brain.

Hope that helps! Cheers !

paddytt

Brilliant spreadsheet, been searching for something like this all day!


(I did click on the beer but your paypal account says it cannot accept money receipts - must be full?!)


Question: Why not just let us enter our actual mpg? It's shown on most trip computers nowadays!


many thanks


TT

Geforce

paddytt wrote: »

Brilliant spreadsheet, been searching for something like this all day!


(I did click on the beer but your paypal account says it cannot accept money receipts - must be full?!)


Question: Why not just let us enter our actual mpg? It's shown on most trip computers nowadays!


many thanks


TT

Hey!


Thanks for attempting to donate a pint to me - unfortunately I've been quite involved in BitCoins and other AltCurrency in the last few months and PayPal have taken it upon themselves to close me down - Which I'm currently in dispute about. Not to worry, after all, it is new year, and it was the thought that counts :beer:


The reason you can't enter your MPG is because... I never thought of that :T. In fact, I'm not even sure how many times this has been downloaded or used! I'm really pleased you've found it useful though.


Cheers and Happy New Year.


Geforce.


Edit: In fact, I remember now (I've had a few beers), the reason you can't enter your 'actual' MPG is because MPG and Co2 output have a direct correlation with one another. The calculation isn't perfect but if you burn 1 litre of diesel, you should produce exactly 2.6391kgs of Co2. Although this figure is accurate, it's actually indicative because all car companies measure Co2 output slightly different to one another.


And that's the reason why there's a drop-down box to amend your actual MPG to about what your trip computer says.


Ta da!!


Cheers :-)

Nutt

thanks, looking at if its worth gong PHEV for my new company car and this is dead handy as the BIK rates fluctuate a lot soon!

paddytt

The link doesn't appear to work anymore...?

mjm599

Hello,

I currently have a company car and am also in the 40% tax rate. I have the option to have a car allowance of £450 and wonder how much better off i would be if i took the car allowance?

I already have my own car aswell so would not be looking to finance, buy another etc in the short term.

Thanks