Fuel Card Benfit Query

bloke91

Hi


I have a fuel card with my company car, I use the card for personal use only.


My p11D shows the Cash equivalent of fuel for the car as £4200


How to identify how much a month or year the fuel card is costing me in tax? I am a 40% tax payer.


Regards

Darksparkle

£4200 x 40%

bloke91

£4200 X 40%?


Do you mean 40% of £4200 or £4200 divided b 40?

dori2o

40% of £4200

In terms of cold hard cash the fuel costs you £1680 or £32.31ish per week.

As it's a company car you have the fuel card for then the cost of the benefit in kind isn't based on how much fuel you use, so if you are spending on average more than £32 a week on private fuel then the card is saving you money (don't forget travel to and from a place of work is private use).