P11D/Self asses question - Company Car

directdebiter

Hi - Just hoping someone could share their knowledge - On the self assessment under "Taxable benefits and expenses" there is a box for Company Car Value. This figure should come from the P11D. Should you add in the total cash equivalent of the car figure or 40% of this figure? (for higher rate tax person). thanks.

maggiesoup

May I piggyback your thread?

I work and pay PAYE but also own a half share in a property so need to do a Tax Return.

I get a company car but my employers haven't yet given me my P11D form and I'd like to get the Return done this weekend if poss but I don't know the 2014-15 figure.

The amount was £2160.00 (Ford Fiesta) for 2013-14 so I wonder if anyone knows the 2014-15 figure?


Thanks

purdyoaten

directdebiter wrote: »

Hi - Just hoping someone could share their knowledge - On the self assessment under "Taxable benefits and expenses" there is a box for Company Car Value. This figure should come from the P11D. Should you add in the total cash equivalent of the car figure or 40% of this figure? (for higher rate tax person). thanks.

The cash equivalent - the calculation will work out the tax due

purdyoaten

maggiesoup wrote: »

May I piggyback your thread?

I work and pay PAYE but also own a half share in a property so need to do a Tax Return.

I get a company car but my employers haven't yet given me my P11D form and I'd like to get the Return done this weekend if poss but I don't know the 2014-15 figure.

The amount was £2160.00 (Ford Fiesta) for 2013-14 so I wonder if anyone knows the 2014-15 figure?


Thanks

Get the P11D - not worth putting a different figure on the return from that submitted by the employer.

Spidernick

I thought employers were legally bound to provide individuals with their P11D at the same time as supplying this to HMRC (i.e. 5 July)? Even if not, why wouldn't they? This is very poor form by the employer I would say.

maggiesoup

Spidernick wrote: »

I thought employers were legally bound to provide individuals with their P11D at the same time as supplying this to HMRC (i.e. 5 July)? Even if not, why wouldn't they? This is very poor form by the employer I would say.

Yes I thought I would have got it before now. However I'll wait until I get the form before sending in my REturn.

xylophone

http://www.hmrc.gov.uk/manuals/sammanual/sam70010.htm

seems relevant?

CJBushey

Sorry, but I really don't know how to start a new thread...

About 6 years ago I leased a car from my employer who had a sister company which leased cars. I paid the full lease amount from my net salary.

I left the company and returned the car after 2 years but now I apparently owe the tax man so they have reduced my tax code to 666.

Is this right?