Company car - how to account for private fuel?
A company car is going to be provided to an employee. Only business mileage will be reimbursed.
It is likely the employee will pay for fuel on the company credit card so my question is how the private fuel will be paid for as the company will not be paying for this.
Is the easiest way to allow the employee to put all fuel on the company credit card, and record business trips. At the end of the year, the mileage logs for business can be compared against the mileage on the car speedometer and then the employee can pay back the personal fuel amount used to the company.
Would this be the best way to account for the private fuel or what is the norm in this situation?
- Flat Rate VAT 140 1
- SA302 376 8
- How to prove income for a mortgage if you have no SA302s 477 6
- Suppliers for Online Card Payments? 399 8
- Can anybody help withe the RTI end of year process? 441 5
- Anyone Heard of This Outfit? 412 2
- Tax Return Member LLP 194 2
- Purchase of shares and goodwill 200 5
- How will auto enrolment affect accountants? 1,517 41
- Directors Remunerations and Employees on CT600 145 1
- How can I tell what returns are outstanding on HMRC online? 253 3
- Practice management - that old chestnut....... 1,249 19
- Go Cardless 405 10
- Self assessment tax arrears 358 3
- Mehjoo 350 2
- Amazon Fees, Sage VAT/Tax code T20? 205 4
- US Employment Income - Double Tax Treaty 305 13
- Bringing money to Uk 316 4
- Capital Allowances on Furnished Holiday Lets Business 227 4
- Hmrc software 278 3
- Xtuple 527
- Qtac payroll for bureau 359
- Confused - Professional Association a Mutual trader, or not? 303
- Industrial & Provident Societies 296
- Data transfer from Sage Line 50 to VT Transaction+ 241
- Why would HMRC offer to close an investigation by contract settlement 222
- VAT Payable on Expenses for Non-VAT Registered Ltd Co 219
- Domain name sale and limited company 186
- CIS schemes 183
- Investment 161