Benefits in kind on P11Ds

[milliecharlie]

Not sure if somebody can help me but here goes::

I have just started with a company and have a company car with a fuel card. I currently only pay tax for business mileage and nothing for personal use. I need to know the following:

What will the tax implecation be should I use the card for business & personal mileage.

Am I better off paying for my own fuel rather than paying tax????

Some assistsnace would be appreciated

Thanks

[robbob]

Hello millie

I am a bit confused by the section of your post where you say

I currently only pay tax for business mileage and nothing I for personal use

Do you mean you have car benefit only and not fuel benefit.

Normally unless you have a car with a low list price and low CO2 emmissions the fuel benefit ia quite high.
The answer will also depend on how much private mileage you do - the morre private mileage the more you will have to reimburse.
I would check the calculation on the revenue website - i do suspect if you have lowish personal mileage you will be better off reimbusing for private fuel.
Not travel to and from permanent workplace is private mileage

http://www.hmrc.gov.uk/calcs/cars.htm

[milliecharlie]

I am based from home so when i visit a customer it's classed as company mileage.

What I was asking was am I better off paying for my private fuel or use the card for both personal and company mileage and just pay tax on it.

Is the tax going to be really high??? I roughly estimate that I will do about 5000 personal miles.

Hope you guide me to what would be best for me.

Thanks

[robbob]

Hello again

Put the car details into the calculator shown and it will tell you how much you will get taxed.
Yes the tax on private fuel provided can be high !!!

eg car with list price of 20k when new and 160 CO2 emmissions works out at £3380 benefit - this would cost you £1352 in tax if you are a higher rate taxpayer.