Car allowance and petrol card.
Posted: Fri Feb 06, 2004 6:36 pm
Since I gave up my company car I get a car allowance, but also still have a petrol card.
I had assumed that the actual amount of petrol used would go on my P11D and I would get taxed on that as if it was income.
However I seem to have been charged the same fuel scale charge as if I still had a company car. Is this right? [img]images/graemlins/confused.gif[/img]
For the 2002/3 tax year the fuel scale charge for a >2 litre car was £4200. 40% of this is £1680. As I used £2350 of petrol, my actual gain from having the petrol card is £2350 - £1680 = £670.
If I bought less than £1680 of fuel I would be better off giving back the petrol card. [img]images/graemlins/frown.gif[/img]
This year the fuel scale charge is based on emissions and will be >£5K for an S4.
If the scale charge is correct then I think I will try to negotiate with my company to give me extra salary instead of a petrol card.
I reckon I would be about a grand a year better off after tax. Enough for a remap or a few extra beers [img]images/graemlins/thumbs.gif[/img]
Otherwise I will just have to do twice as many miles [img]images/graemlins/roflmao.gif[/img]
Any thoughts anyone?
Cheers,
David
I had assumed that the actual amount of petrol used would go on my P11D and I would get taxed on that as if it was income.
However I seem to have been charged the same fuel scale charge as if I still had a company car. Is this right? [img]images/graemlins/confused.gif[/img]
For the 2002/3 tax year the fuel scale charge for a >2 litre car was £4200. 40% of this is £1680. As I used £2350 of petrol, my actual gain from having the petrol card is £2350 - £1680 = £670.
If I bought less than £1680 of fuel I would be better off giving back the petrol card. [img]images/graemlins/frown.gif[/img]
This year the fuel scale charge is based on emissions and will be >£5K for an S4.
If the scale charge is correct then I think I will try to negotiate with my company to give me extra salary instead of a petrol card.
I reckon I would be about a grand a year better off after tax. Enough for a remap or a few extra beers [img]images/graemlins/thumbs.gif[/img]
Otherwise I will just have to do twice as many miles [img]images/graemlins/roflmao.gif[/img]
Any thoughts anyone?
Cheers,
David