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Car, Van and Fuel Benefits

  • The car benefit is calculated by multiplying the car’s list price, when new, by a percentage linked to the car’s CO2 emissions.
  • For diesel cars generally add a 4% supplement (unless the car is registered on or after 1 September 2017 and meets the Euro 6d emissions standard).
  • The overall maximum percentage is capped at 37%.
  • The list price includes accessories.
  • The list price is reduced for capital contributions made by the employee up to £5,000.
  • Special rules may apply to cars provided for disabled employees.

2023/24

CO2 emissions g/km % of list price taxed
0 2
1 – 50
Electric range 130 or more 2
70 – 129 5
40 – 69 8
30 – 39 12
under 30 14
51 – 54 15
55-59 16
60-64 17
65-69 18
70-74 19
75-79 20
80-84 21
85-89 22
90-94 23
95-99 24
100-104 25
105-109 26
110-114 27
115-119 28
120-124 29
125-129 30
130-134 31
135-139 32
140-144 33
145-149 34
150-154 35
155-159 36
160 and above 37

 

  • The car benefit is calculated by multiplying the car’s list price, when new, by a percentage linked to the car’s CO emissions.
  • For diesel cars generally add a 4% supplement (unless the car is registered on or after 1 September 2017 and meets the Euro 6d emissions standard).
  • The overall maximum percentage is capped at 37%.
  • The list price includes accessories.
  • The list price is reduced for capital contributions made by the employee up to £5,000.
  • Special rules may apply to cars provided for disabled employees.

 

2022/23

CO2 emissions g/km % of list price taxed
0 2
1 – 50
Electric range 130 or more 2
70 – 129 5
40 – 69 8
30 – 39 12
under 30 14
51 – 54 15
55-59 16
60-64 17
65-69 18
70-74 19
75-79 20
80-84 21
85-89 22
90-94 23
95-99 24
100-104 25
105-109 26
110-114 27
115-119 28
120-124 29
125-129 30
130-134 31
135-139 32
140-144 33
145-149 34
150-154 35
155-159 36
160 and above 37

Car Fuel Benefits

  • Car fuel benefit applies if an employee has the benefit of private fuel for a company car.
  • The benefit is calculated by applying the percentage used to calculate the car benefit by a ‘fuel charge multiplier’.
  • The charge is proportionately reduced if provision of private fuel ceases part way through the year. The fuel benefit is reduced to nil only if the employee pays for all private fuel.
Car fuel benefit 2023/24
Fuel charge multiplier £27,800

 

  • Car fuel benefit applies if an employee has the benefit of private fuel for a company car.
  • The benefit is calculated by applying the percentage used to calculate the car benefit by a ‘fuel charge multiplier’.
  • The charge is proportionately reduced if provision of private fuel ceases part way through the year. The fuel benefit is reduced to nil only if the employee pays for all private fuel.
Car fuel benefit 2022/23
Fuel charge multiplier £25,300

Van Benefits

  • Van benefit is chargeable if the van is available for an employee’s private use.
  • A fuel benefit may also be chargeable if an employee has the benefit of private fuel paid for in respect of a company van.
  • The charges do not apply to vans if a ‘restricted private use condition‘ is met throughout the year.
  • A reduced benefit charge may apply to vans which cannot emit CO2 when driven.
Van benefits 2023/24
Van benefit £3,960
Fuel benefit £757

 

  • Van benefit is chargeable if the van is available for an employee’s private use.
  • A fuel benefit may also be chargeable if an employee has the benefit of private fuel paid for in respect of a company van.
  • The charges do not apply to vans if a ‘ restricted private use condition ‘ is met throughout the year.
  • A reduced benefit charge may apply to vans which cannot emit CO when driven.
Van benefits 2022/23
Van benefit £3,600
Fuel benefit £688

 

 

 

Disclaimer

This publication is published for the information of clients. It provides only an overview of the regulations in force at the date of publication and no action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material contained in this publication can be accepted by the authors or the firm.

Registered as auditors and regulated for a range of investment business activities in the United Kingdom by the Association of Chartered Certified Accountants

Company Information Walker Thompson is a trading name of Walker Thompson Ltd registered in England and Wales. Company registration number 06574838

Registered Office Empress House :: 43a Binley Road :: Coventry CV3 1HU :: T 024 7663 5522 :: F 024 7663 5518 :: E clientcare@walkerthompson.co.uk