Working out tax for fuel card on an ECO scheme

[PHlL]

The initial message was deleted from this topic on 05 October 2017 at 22:55

[Shirt587]

My understanding, based on other people I know who have similar access, is yes that is correct.

Check with your HR guys for the definitive answer, because the devil is in the detail of ECO schemes.

[bogie]

Yes, correct, I have found it works out much better for me to be taxed on fuel card with a private car versus company car

Effectively you pay tax on the cash benefit of all fuel provided, then claim back tax relief @45p a mile for 10k miles then .25p after that.

So your P11D shows the cash fuel and you claim back mileage on tax return "other business expenses" just keep a record of business miles and show your working out.

Ive been doing that for >15 years now, works great, so much better than paying flat rate fuel benefit tax based on CO2 etc