Advice on company car fuel benefit

lwbrz

Hi all, my first post!
I'm trying to make sense of company car / fuel benefit / advisory fuel rates etc.

I have a company car, and use it for personal use too. I use a fuel card to put in petrol, and each month I use our online work system to input mileage which then gets charged back to me.

When looking at my tax information for the car this year, It says
Your contribution to private use £0
Company car benefits for the 2017 to 2018 tax year -
Car benefit £4,700
Fuel benefit -

Is this correct if I pay back my private fuel each month? Should anything be in contribution to private use?

On my taxable income estimate, its about 10 grand over what my actual salary is, and on the breakdown of company benefits:
Car benefit 4900
Car fuel benefit4000 (Says that its been provided by my employer?)

Am I right in thinking I shouldn't have fuel benefit and instead be paying advisory rates, and if so what impact would this have on me? Would I end up with overpayment or underpayment?
I will need to sort this with last years tax also if this is the case.

Any advice is welcomed to help me with this confusing issue! :A

SYTax

On the basis you pay back all of your private fuel (including journeys from home to your permenant workplace) you should have no taxable 'fuel benefit'.

Therefore the 'Tax information' could be correct (I can't check the car benefit).

As to whether you are under or overpaying tax, it will depend on whether your employer is payrolling the car benefit and your tax code etc.

Does this help?

00ec25

lwbrz wrote: »

I have a company car, and use it for personal use too. I use a fuel card to put in petrol, and each month I use our online work system to input mileage which then gets charged back to me.

When looking at my tax information for the car this year, It says
Your contribution to private use £0
Company car benefits for the 2017 to 2018 tax year -
Car benefit £4,700
Fuel benefit -

Is this correct if I pay back my private fuel each month? Should anything be in contribution to private use?

looks right on the info you provide

you do not pay anything towards the cost of the car itself therefore the "contribution to private use" is £0

the car benefit of £4,700 will be whatever is the figure applicable to the exact make and model of car you have using the 16/17 rates - look it up https://www.gov.uk/government/statistics/taxable-benefits-in-kind-and-expenses-payments-company-car-tax-rules-2005-to-2016

you "pay" (via the chargeback) for all private use fuel and (I assume) the online system also logs all business mileage you have done. Therefore there is zero fuel benefit as you have no private fuel and the business use fuel is matched to the business mileage leaving no "personal" use so nothing to be taxed

lwbrz wrote: »

On my taxable income estimate, its about 10 grand over what my actual salary is, and on the breakdown of company benefits:
Car benefit 4900
Car fuel benefit4000 (Says that its been provided by my employer?)

Am I right in thinking I shouldn't have fuel benefit and instead be paying advisory rates, and if so what impact would this have on me? Would I end up with overpayment or underpayment?
I will need to sort this with last years tax also if this is the case.

Any advice is welcomed to help me with this confusing issue! :A

don't know who produced the "estimate" you refer to but it is an estimate and so can be corrected with whoever did it. Note however that the rates increase each year which is why your car benefit is higher - check it on the same link as above

the estimate does not know you repay all private use, but it does know you have a fuel card covering all fuel you use, so it is making an allowance calculated as the 17/18 rate (22,600) x the applicable % for your exact make and model.

Njay01

Hi, I have the private fuel benefit and wanted to ask if this would cover private fuel purchased whilst on holiday abroad in my company car?

00ec25

Njay01 wrote: »

Hi, I have the private fuel benefit and wanted to ask if this would cover private fuel purchased whilst on holiday abroad in my company car?

Yes, it does.
Whether your company terms and conditions of employment include them paying for fuel purchased abroad at company expense for private use has no relation to the fact that the taxable fuel benefit is a fixed sum of money on which you pay tax whether you put 1p or £1M of fuel into your car for business and/or private use purchased in the UK and/or "abroad".