Petrol Card - Taxable?
#1
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Petrol Card - Taxable?
Anyone know if a fuel card without a company car is seen as a taxable benefit?
I have had enough of paying for petrol and wondered if I could get one through work how much of it the taxman would take?
Does the tax increase the more you use it?
Cheers SNetters!
I have had enough of paying for petrol and wondered if I could get one through work how much of it the taxman would take?
Does the tax increase the more you use it?
Cheers SNetters!
#2
Hello
It is a taxable benefit. At the end of the year your company will submit the amount that has been spent.
You can then offset this with your business miles (if you have any).
Steve
It is a taxable benefit. At the end of the year your company will submit the amount that has been spent.
You can then offset this with your business miles (if you have any).
Steve
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As Steve said it is a taxable benefit. In effect it is tax free income, so Mr Tax Man will coming looking for his slice. Last time I had one I was running a Scoob and putting in £4500 a year (this is about 4 years ago) - my tax bill was 40% of that (fortunately offset by a lot of business miles!)
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I am a 40% tax payer, and my fuel benefit charge is £198 p/m.
HM Revenue & Customs: CCF-Session Ended
HM Revenue & Customs: CCF-Session Ended
#9
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Not yet but I wanted to scope it out before putting on the table as part of a negotiation
I am a 22% tax payer and so I calculated by tax bull would be circa £120/month - as I put in £200 it is surely worth a punt.
Thanks all!
I am a 22% tax payer and so I calculated by tax bull would be circa £120/month - as I put in £200 it is surely worth a punt.
Thanks all!
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