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?
- MS Surface Pro 3 46 1
- Does anybody still use a Filofax? 554 19
- Financial statements in Word, with formulas 1,464 17
- HMRC Penalties - are they enforceable? 1,053 35
- Your fondest calculator memories 1,197 44
- R&D tax claim 248 7
- You think HMRC are inefficient? 519 9
- Company Pension Contributions 2013/14 175 7
- Profit accruing in fiduciary or representative capacity 128 2
- Gift to employee 371 12
- Tax Allowance on University Course 154 1
- Transfer of a business 126 1
- I hate HMRC's voice recognition system - The Inept Interrogator 1,135 22
- Investment property where tenant lives rent free 415 8
- VAT Cross Border Invoicing 116 2
- Sage Import Data 312 6
- Slight twist on employment related securities 245 1
- Child and Working Tax Credits and sudden increase in investment income - does this trigger a claw back? 129 2
- Best time software for small practice? 237 2
- Residents Association Corp Tax 320 13
- DTR : TIOPA 2010 Section 42 481
- CTA study material 456
- Sect 102 TMA 1970 333
- Pre incorp expenses 313
- Relief on French Tax Deposit? 269
- Anyone have clients that use Pay4Later to offer customers credit? 255
- What is the tax position if I am working overseas but via a UK agency? 207
- Gift Aid after 5 April, before 31 Jan - Tax Credits 161
- Anybody have that old ACCA Student Training Record (STR1) 142
- Taxation of partners in an LLP following new rules 135