Compnay van use but only earning 10k per year, tax costs?
Discussion
The Benefit in Kind rules on private use of vans and commercial vehicles are much less stringent than those for ordinary motor cars.
These are the rates that were in use in 2014/15 -
The values of van benefit, car fuel benefit and van fuel benefit have been set for 2014/15:
Van benefit: £3,090
Van fuel benefit: £581
Car fuel benefit: £21,700
The van benefit is the cash equivalent of a van made available to an employee for private use.
The van fuel benefit is the cash equivalent of fuel for private use in a van to which the van benefit applies.
The car fuel benefit figure is used to calculate the cash equivalent of fuel supplied for private use in a company car.
The cash equivalent is arrived at by multiplying £21,700 by the appropriate percentage (based on the car’s CO2 emissions).
These rates are set by secondary legislation, the Van benefit and Car and Van Fuel Benefit Order 2013, SI 2013/3033, which has been published on the legislation.gov.uk website.
These are the rates that were in use in 2014/15 -
The values of van benefit, car fuel benefit and van fuel benefit have been set for 2014/15:
Van benefit: £3,090
Van fuel benefit: £581
Car fuel benefit: £21,700
The van benefit is the cash equivalent of a van made available to an employee for private use.
The van fuel benefit is the cash equivalent of fuel for private use in a van to which the van benefit applies.
The car fuel benefit figure is used to calculate the cash equivalent of fuel supplied for private use in a company car.
The cash equivalent is arrived at by multiplying £21,700 by the appropriate percentage (based on the car’s CO2 emissions).
These rates are set by secondary legislation, the Van benefit and Car and Van Fuel Benefit Order 2013, SI 2013/3033, which has been published on the legislation.gov.uk website.
Eric Mc said:
The Benefit in Kind rules on private use of vans and commercial vehicles are much less stringent than those for ordinary motor cars.
These are the rates that were in use in 2014/15 -
The values of van benefit, car fuel benefit and van fuel benefit have been set for 2014/15:
Van benefit: £3,090
Van fuel benefit: £581
Car fuel benefit: £21,700
The van benefit is the cash equivalent of a van made available to an employee for private use.
The van fuel benefit is the cash equivalent of fuel for private use in a van to which the van benefit applies.
The car fuel benefit figure is used to calculate the cash equivalent of fuel supplied for private use in a company car.
The cash equivalent is arrived at by multiplying £21,700 by the appropriate percentage (based on the car’s CO2 emissions).
These rates are set by secondary legislation, the Van benefit and Car and Van Fuel Benefit Order 2013, SI 2013/3033, which has been published on the legislation.gov.uk website.
Thanks, you're more help than my own accountant has been so far. Do you work for yourself?These are the rates that were in use in 2014/15 -
The values of van benefit, car fuel benefit and van fuel benefit have been set for 2014/15:
Van benefit: £3,090
Van fuel benefit: £581
Car fuel benefit: £21,700
The van benefit is the cash equivalent of a van made available to an employee for private use.
The van fuel benefit is the cash equivalent of fuel for private use in a van to which the van benefit applies.
The car fuel benefit figure is used to calculate the cash equivalent of fuel supplied for private use in a company car.
The cash equivalent is arrived at by multiplying £21,700 by the appropriate percentage (based on the car’s CO2 emissions).
These rates are set by secondary legislation, the Van benefit and Car and Van Fuel Benefit Order 2013, SI 2013/3033, which has been published on the legislation.gov.uk website.
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