Company car Tax

tonybird1979

Hi Peeps

Not sure if this is the right section , but i couldnt find anywhere else to go  
Ive had my job since the end of november , mobile engineer , with a company car. Please bear in mind this is my first ever job that included a company car , so my questions might seem a bit noobish
I know i have to pay a tax on the car , using online calcs its around £107 a month . But i have no idea if im paying it ? My wage slip doesnt show it , ive repeatedly emailed my payroll dept for an answer and nothing . I dont want to get hit with a big bill from the Gov at no fault of my own .
Is there anyway i can find out if i am paying it ? tax codes etc ?

Regards

Tony

tonybird1979

Also i should add..
Was i supposed to tell the HRMC about the car or is that down to my employer ?

MEM62

Your employer should advise HMRC that you have the car and whether fuel for your personal use is also included.  HMRC will then send you an updated tax code to reflect the value of this benefit.  You will not see a separate line on your payslip for company car tax.     You can also inform HMRC yourself online.  Either way, make sure they know asap as you will not want a back-dated tax bill.  

tonybird1979

i pay the 11p per mile so fuel isnt taxed.
ive not been sent anything from hrmc
Looking at my gov portal , my tax code hast changed for quite some time , its currently on 1262L

DoaM

Does your payslip mention anything about BIK (Benefit In Kind)? That's the way my company car tax is assessed - it is not adjusted on my tax code. Basically it shows a BIK value (equivalent value of the benefit) and then this is taxed at my marginal rate (after taking into account salary, tax allowance, pension etc.). The BIK value is based on the vehicle make/model and its emissions, and the list price of the vehicle. E.g. if the list price was £25k and the emissions quotient was 23% then the value of the benefit would be £5,750 per year or £479.17 per month. Your tax on that (at basic rate) would be £95.83 per month.

Scrapit

Ok having read the answers above my experince is your tax code will be changed and there is no BIK or company car listed on a pay slip. From the gov website 1250l is the current tax code most should have.

452

tonybird1979 said:

i pay the 11p per mile so fuel isnt taxed.
ive not been sent anything from hrmc
Looking at my gov portal , my tax code hast changed for quite some time , its currently on 1262L

Looking at your tax code you're not paying it.

DoaM

My tax code is S1262LC (yes, I'm in Scotland). @tonybird1979 ... did you do an apprenticeship? If yes then that will likely account for the additional £120 tax allowance, as I get the same. (It's an allowance for tools).

DoaM

Scrapit said:

Ok having read the answers above my experince is your tax code will be changed and there is no BIK or company car listed on a pay slip. From the gov website 1250l is the current tax code most should have.

So your experience differs from mine. I work for a global company with ~120k employees worldwide, and several thousand in the UK. All our UK employees with company cars have the BIK on their pay slips (defined as Car Ben PY). Other BIK elements are listed in the same location (e.g. I pay monthly as BIK for global travel insurance, not that it's much use at the moment).

photome

DoaM said:

Scrapit said:

Ok having read the answers above my experince is your tax code will be changed and there is no BIK or company car listed on a pay slip. From the gov website 1250l is the current tax code most should have.

So your experience differs from mine. I work for a global company with ~120k employees worldwide, and several thousand in the UK. All our UK employees with company cars have the BIK on their pay slips (defined as Car Ben PY). Other BIK elements are listed in the same location (e.g. I pay monthly as BIK for global travel insurance, not that it's much use at the moment).

I have a company car and my tax code is adjusted by the BIK amount.

I am confused as to how you pay  the tax on the  BIK for your car as the tax code denotes how much tax you pay

DoaM

If @tonybird1979 shows us a (redacted) copy of his pay slip then we may be able to spot something he can't understand.