P11D BIK Help

Tuharax

Hi,

I have been in my current role for 8 months. I am looking for some help understanding a recent tax code change and a P11D form I have received through the post.

Based on the below. When i started 1150L M1 I was on emergency tax (M1). I presume this is just as its a new role and tax codes can take sometime to update. Then by April I had dropped off to a normal looking tax code 1185L. I paid higher tax that month as i received a small bonus. Then I go back onto M1 I assume because of the higher pay the previous month? June then looks like an ok tax breakdown. Then July/Aug this 1036L M1 tax code has appeared. Could someone please try and explain why? I presume its because of a P11D i recently received through the post? I had two company cars from starting my role. The P11D section F information is below.

Does the forgone in fuel section basically say that I should be paying fuel benefit tax? If so, what are the 866 and 498 figures? i thought fuel benefit was just a flat fee.

It looks like up to now I have paid no BIK tax on the cars or fuel benefit. How will all of this work out? Will HMRC look back at the last 7 months I've had the cars and start to tax me more each month to make up for it? Is it possible to calculate how much? Or will this be a bill at the end of the tax year?

I also have another car at the moment (only ever have one car at a time it just keeps swaping due to it reaching its mileage). I also have one on order to swap into. These are not on the P11D. Will they be added to next years - i suppose the same question then will arise when will i pay tax on those? The new car Im due to order says its 558 per month BIK and fuel benefit (com car -link below). If my P11D is up to date is that saying I should essentially pay 558+385(normal tax) in tax per month? I still cannot work out if the P11D is saying I owe fuel benefit or not.

Additional question I have used com car calculator to look at the tax and private fuel benefit and its says its additional tax of 556 per month car is VW Tigan 2.0 BiTDI SCR SEL BMT 240 4MOTION DSG. However, all other calculators online show 144 (fuel benfit) and 227 (BIK) so 371. Why is there a difference? Does the car benefit push me into the 40% bracket so I pay more income tax? Would this also increase the amount of student loan i pay, and pension contributions. Im basically trying to work out what my take home pay each month will be using this car with 35k salary, pension contributions at the minimum, and student loan payments. it seems like its going to be ridiculously expensive 556 additional tax on top of my normal tax!

Any help would be appreciated

Salary- 35K
Tax code breakdown for last few months
AUG 1036L M1 (tax 410 NI- 265)
JULY 1036L M1 (tax 410 NI 265)
JUNE 1185L (tax 385 NI 265)
MAY 1150L M1 (tax 391 NI 268)
APR 1185L (tax 596.20 NI 380)
FEB 1150L M1 (tax 391 NI 268)

P11D
car one
list price 26k
Cash equivalent or relevant amount for each car : 595
Cash equivalent or relevant amount foregone in respect of fuel for each car 498

car two
list price 37k
Cash equivalent or relevant amount for each car : 1443
Cash equivalent or relevant amount foregone in respect of fuel for each car 866