Car Tax query (another)

[bga]

Hi all, I have a bit of a query about BIK and payments for private use....

Basically I have a company car which I contribute towards every month. I pay BIK on it & that is all straight forward.

I am going to be leaving my employer at the end of this month. As I have not kept the car for the 1 year period I was signed up to, I have to pay them the not inconsiderable sum of £1200 for "Private use of the vehicle".

My question is: If I have to pay for the private use for the 4 months I have had the car, is it possible to claim anything back from the Inland revenue as I have already paid them for the BIK of having the car?? If so, will I be able to claim back the £1200 or will it be a proportion of that?

I will be speaking to the tax guy at work when he gets back from hols on Monday but any info prior to that would b egratefully received!

cheers

bga

[Eric Mc]

The ultimate BIK charge on which you are taxed is based on the list price of the car multiplied by a % amount based on its CO2 emission level. The resulting amount is then timr apportioned on a daily basis if you had use of the car for a period less than the full tax year. The charge is further reduced if you made a personal contribution to the capital cost of the car.

[bga]

Thanks Eric, you are the font of all knowledge as always!