An AccountingWEB.co.uk guide to company cars and fuel

This article provides a summary of the rules on how cars and fuel are taxed together with a review of the key problem areas encountered by employers and employees, and a look at how benefit tax is developing in the area for the future.

Summary

Cars are taxable as a benefit in kind on directors and employees earning at a rate of more than £8,500 per annum. Cars are taxed at a percentage of the list price of the vehicle.