Company car goes back part way through tax year

[PostHeads123]

What happens if a company car goes back part way through tax year, will HMRC still assume you have it the whole tax year and you keeping paying the tax and then have to claim the tax back at the end of the year, or will the extra tax stop shortly after car is returned ?

Basically my misses loses her company car in early May, she wont be getting another company car or any car allowance, she will have to fund her own car, from that point on. I wondering if it would just be a lot simplier to hand the company car back just before the start of new tax year ?

thanks

[Sheepshanks]

I think it's long been the case that the employer has to report quarterly to HMRC, and they might have to do it even quicker now.

ETA: https://www.gov.uk/tell-hmrc-company-car

[Eric Mc]

Employers have been required to update HMRC on company car changes on a quarterly basis for many years.

Employees now, in theory, can actually preempt their employers and update company car information using their Digital Tax Account access.

This is the way HMRC wants to move forward - getting individuals to take charge of their own tax affairs (which is not a bad thing, in my opinion).

[craig1912]

No different from changing a car mid year. Just go online- input new details and you will get a tax code change within a week.

[Eric Mc]

craig1912 said:

No different from changing a car mid year. Just go online- input new details and you will get a tax code change within a week.

A lot of people aren't aware that a person can do this now. HMRC's publicity and awareness campaign on this quite sensible initiative has been pretty much non-existent.

[PostHeads123]

thanks for the replies.