Hoping someone can help me as I keep getting different answers when using the tax online chat.
I currently have a company car and fuel card (full private miles paid) however i'm looking to switch to a paid allowance to purchase my own car, but keeping the fuel card.
Could someone explain how it works?
The allowance would be £500 a month - this is paid in my salary - presume I pay tax on this as I would with normal salary.
Fuel card - this is where it gets confusing, so if I kept the fuel card (still for private miles) how would I pay tax, would it be actual spend on fuel card declared - then taken from tax code?
For example - if my spend last year was £3500 on the fuel card, would payroll pass that number to HMRC and they'd take it off my tax code, so my tax code would be 900l?
Or if that's not how it works, could someone explain it (in very simple terms
)Thanks
Lee
