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Car fuel tax
Tracy.los
Posts: 1 Newbie
in Cutting tax
I have a company car, and a company credit card pays for all the fuel.
I have just been told that I am being taxed on ALL of the fuel payments.
Surely, I should only pay tax on my private mileage?
Any help and comments welcome!
I have just been told that I am being taxed on ALL of the fuel payments.
Surely, I should only pay tax on my private mileage?
Any help and comments welcome!
0
Comments
-
you possibly misunderstand how the fuel benefit works?
it is a fixed sum of money £22,400 for 1/19 adjusted by the relevant Co2 emissions factor for your specific make and model of car.
That gives a taxable value upon which you pay tax.
the only way to eliminate that tax charge is to pay back to your employer every single penny of private use fuel. If you do that then you will pay no tax. If you do not, you will pay tax on "all" of the fuel benefit figure.
there are lots of online calculators that do the sums for you, along with many websites that explain fuel benefit, here are 2 to get you started on your reading
https://comcar.co.uk/taxpages/carfuelbcharge/
http://aldtaxguide.co.uk/fuel/benefit/0
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