Introduction
Main Income Tax reliefs
Income Tax Rates and bands
Car Benefit Assessment
Tax Free Mileage Allowances
National Insurance Contributions
Pension Contributions
Inheritance Tax
Value Added Tax
Capital Gains Tax
Corporation Tax
Main capital allowances
Stamp Duty & Stamp Duty Land Tax
Earliest due dates for payment of tax
| Charge based on a percentage of the initial list price of the car, including accessories, delivery charges and VAT. The percentage depends on the carbon dioxide emissions rating of the car, and whether the engine runs on petrol or diesel. | ||
| Ratings | Petrol | Diesel |
| 0-140g/km | 15% | 18% |
| over 140g/km | +1% for each extra 5g/km (145,150,etc.) | |
| Maximum | 35% | 35% |
| Special rules apply to older cars which do not have a CO2 rating. Employee contributions for private use are deducted from the taxable figure. Company vans are charged at £500 (£350 where 4 years or older) if private use is more than home-to-work travel. | ||
| Car fuel benefit | ||
| The benefit of free fuel for private use in a company car is calculated using the same percentage as that used for the car benefit, applied to a standard figure of £14,400. The taxable amount is therefore between £2,160 (min.) and £5,040 (max.). | ||
© Bayar Associates Ltd., 2006. An Oppo site.