Fuel Card BIK Help

gooner357

Hi,

Need some help if possible with understanding the costs of a company fuel card.

I'm due to start a new job with company card, and have two options for fuel. I can either claim business miles back, or have a fuel card.

Understand how claiming the company mileage rate works for business miles, but never had a fuel card.

So my questions:

1) I know what I'll get taxed for private fuel, and it looks beneficial based on my private miles, but would I also have to pay the company for my private miles ?

2) If I do have to pay the company money towards private miles, would this be deducted from my fuel BIK tax bill or would this mean I'm effectively paying twice for the fuel ??

Appreciate this is a little vague, but just trying to work out if the fuel card is a benefit to me or not. If it helps I do approx 13k private miles a year.

Andy

jamesml

Usually it works one of 2 ways - you either repay your private miles and then you shouldn't have to pay any BIK or you don't repay private miles and then have to pay BIK.

Will depend on the extent of your private miles as to which you are better off.