![]() ![]() However, for some people, the concept of a company car is still appealing and there are ways to reduce the an=mount of company tax car to actually make it worthwhile retaining your company car. Because of this factor, it may be better to enter into a personal lease to avoid having to pay company car tax. Our handy calculator will help you work out your car's CO2 figure, P11D value, and any extrasĪ company car is a great benefit or perk sometime offered to employees, but the amount of company car tax that may have to be paid may out way the benefits of having a company car in the first place. Our online company car tax calculator will make your life a lot easier when working out how much you need to pay. This is typically 20%, 40% or 45%, and will be collected via your normal PAYE payslip. You will pay your standard personal tax rate on this proportion of your P11D. The car's official CO2 emissions dictate the percentage of your P11D value that you will pay tax on. The amount of tax you pay is based on a percentage of the value of your car. Driving a lower emission vehicle will see you paying less car tax.Ĭalculating the tax for a company vehicle can be a complicated process. Company car tax is designed to encourage drivers to choose cars that are better for the environment. Your company car is considered a “benefit” or “perk” and is therefore treated as a Benefit In Kind (BIK) and is taxed accordingly. Contact our specialist team for more information and to find the best deals on business car leasing and van leasing.Īny employee or family member who benefits from the use of a company vehicle outside of work has to pay company car tax to HMRC. At Car Leasing, we are here to help answer all of your questions about company car tax. Our company car tax calculator will make working out how much you need to pay quick and easy. ![]()
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