Company cars and fuel
From 6 April 2013, there are increases in the percentages used to calculate the tax charge for company cars.
There is an increase in the car fuel multiplier from £20,200 to £21,100.
These increases can mean that many employees will be better off not having a company car but being paid more in salary. We can advise on this.
The taxation of company cars and fuel benefit uses a percentage based on the car’s carbon dioxide emissions.
From 6 April 2013, the company van fuel benefit charge will also increase from £550 to £564.