Company car tax calculator

Find out more information on company car tax or use our online tax calculator. Or you can use HMRC ’s company car and car fuel benefit calculator if it works in your browser.

Different rules apply according to the type of fuel used. Choose the car using the form below. Calculate the company car tax and any fuel benefit charge on your actual income.

Just select your vehicle or enter the P11D value and BIK rate to calculate. Instantly compare with taking a cash allowance instead. You can also optionally add your capital contribution.

Effortlessly calculate your company car tax for your business vehicle. What is a monthly payment? The tax calculator has been designed to make it easy for you to find out the benefit in kind company car tax due on your next company car. If you have a choice of company cars then you can compare cars side by side.

The company car tax calculator will help you find the lowest benefit in kind position on the company cars from your choice list.

A company car driver can expect to pay vehicle benefit tax If the company pays for the use of fuel on private journeys, tax on fuel benefit will also be applied. For a monthly paid car driver on the PAYE system with the correct tax code, one twelfth of the appropriate amount of tax will be deducted from income via the monthly payroll.

The car tax calculator shows the tax payable at 20% and % that the employee will pay as well as a breakdown of the employer’s costs including total running cost of the cycle and per mile. You pay tax on the value to you of the company car, which depends on things like how much it would cost to buy and the type of fuel it uses. Your tax rate will be at the basic 20% rate if your earnings are under £50or 40% if you earn over this amount.

For earnings above £150the personal tax rate is 45%. Select the used button if your car is not currently available to purchase as a new model. Read more about cash allowance and car salary sacrifice scheme rules below.

Volkswagens are a great fleet choice due to their reliability, excellent safety features, top-of-the-range technology, German engineering and competitive pricing. Car tax is calculated a number of different measures and company cars are no different. Company car tax calculator. For finding out everything there is to know about company cars.

How company car tax works You pay company car tax on a percentage of the P11D value of your car. The P11D value is the manufacturer’s list price, plus VAT, delivery, number plates and any optional extras. The percentage of the P11D value you pay tax on is decided by the CO emissions of your car and fuel type.

To use the company car tax calculator first choose the model and fuel type from the drop down boxes, then select the version for you. The next step is to configure the options on the car and specify any contribution you will make (if any) before.

Salary Sacrifice Calculator. At Hyundai, we work hard to keep COemissions low, which helps keep your tax low too. Benefit in Kind tax (BIK) is based on your cars COemissions and P11D value.

Select your model and fuel type to calculate your BIK and fuel cost. The benefit in kind or BIK tax is evaluated by multiplying the car ’s COemission level, the value of the car when new - including any modifications - and your income tax bracket. Calculating the running costs and tax overheads of company cars can be a hassle for business owners.

That’s why we have developed a special car cost calculator to help UK businesses and company car drivers save money and cut their emissions. You can use our calculator to quickly and easily see the difference in. Looking for the best company car rates?

Benefit in kind tax on company cars is based on carbon dioxide emissions and the list price. Use the Lexus Car Tax Calculator to find out how much company car tax costs. Van Tax Calculator.

We have teamed up with Carmen Data Ltd to provide you with some additional van fleet management tools. Terms and Conditions.

For more information, and to calculate how much tax you might be paying, check the GOV website. Fuelling my company car.

In addition to paying for a car, companies will sometimes offer to pay fuel costs too. It seems like a great deal. This is taxed separately. However, if your employer is paying for the fuel as well as the company car, it.

The tax rate that applies to a passenger car is calculated on the basis of engine type, engine capacity and pollutant emissions.