Advice and Guidance on Company Cars

Calculating Company Car Tax / P11D

At JCT600 we understand that calculating tax liabilities can be confusing, and when you’re choosing your next company car it’s important that you know exactly what your monthly outlay is going to be.

We pride ourselves on offering expert advice when it comes to company cars and that’s why, at JCT600, we have a team of dedicated specialists on hand to help every step of the way. In the meantime, watch our short video which explains how to calculate the company car tax value or P11D value of your car – the first step in understanding your company car tax liability.

Benefit in Kind Tax

If you drive a company car you’re liable to pay Benefit in Kind tax, which is calculated using a percentage figure of the P11D value based on the CO2 emissions of the car.

If you have calculated the P11D value of your car using our earlier video, this short video shows how to calculate your benefit in kind liability. You’ll also need to know the emissions band of the car and which income tax band you pay.

Calculating Private Fuel

Anyone who drives a company car and gets free fuel for private use has to pay tax, and private fuel allowance liabilities are calculated from the current fuel benefit charge of £21700.

It’s important to estimate your private mileage before you decide to take free fuel for private use, or you could end up financially worse off.

Watch our short video which will guide you through the calculations. You will need to know your Benefit in Kind and Income tax bands to calculate the actual tax payable. You’ll also need to understand your vehicle’s fuel efficiency or MPG.

Of course, these are only guides - and legislation does change, particularly when it comes to the rules on exemption. So, why not contact one of our fleet or local business specialists who will guide you through the process, offering expert advice. You can call or email them, call in or even request a visit to your business should that be more convenient.

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