Company Car Tax

dlever

Hi, i am about to be promoted and receive a company car, who do i inform about the change to receive the correct tax code on my wage, is it myself or my employer.
also my employer gave me use of the works van to travel to and from work from may 2005, also was i liable to pay tax on this or not, as it was not used for private use.
if so how do i go about paying the tax and was it upto myself or my employer at the time to inform the tax office.

devils_spawn

Your payroll dept should inform your tax office and your tax code will be changed. Though, I'd phone your own tax office and inform them to avoid getting stung for a big bill if your payroll don't do it.

As for the van - if it's on the V5 as a commercial vehicle then you'll probably find you wouldn't have had to pay tax on it.

dlever

so if it was a vw transporter van would this be classed as a commercial vehicle.

devils_spawn

I reckon so - although hopefully some with a little more knowledge will confirm that!!

Now - remember to shop at either Tesco or BP for your fuel so you can collect clubcard and/or nectar point!
In a previous job, I done so much driving that I was able to get a new CD (around 1400 points) off Nectar each couple of months.

Alfrescodave

Hope you dont regret it when the tax notification comes thru the letter box. Depending upon the type of car you get, the tax can be quite frightening. Many of my colleagues who are entitled to company cars have asked to come off the company car scheme because of the high tax.

Just keep an eye on it and consider whether its worth it to you

chrisxr2

it is down to you to inform HRMC of an changes in circumstance, do not assume your employer will do it. Also do a search on the car they are offering and see how much the tax will be.

Bean_Counter

chrisxr2 wrote: »

it is down to you to inform HRMC of an changes in circumstance

I'm afraid I do not think this is true. For company car's, the employer should notify HMRC of changes on a quarterly basis using form P46(CAR).

However, as others have said, no harm in letting them know.

Petal_3

I always advise our staff to call and notify of any changes although I submit my P46's online. You just don't know how long these things take to process and if the tax code isn't changed immediately there will usually be unpaid tax to catch up on.

~x~

sutwam

Hi

I too would ring up the HMRC office to make sure you get your coding changed. Our company do fill in the P46 informing the Tax Office but never received a new coding for our employees.

One of the Reps has never paid company car tax for 7 years - and is annoyed that he has had to start paying it recently as the accounts department rang up regarding another employee and just asked in passing.

It does look however that he might get away with 6 years of unpaid company car tax - which is very unfair for us above board tax payers!