Festive Tax Tips

As the countdown to Christmas begins, we thought we would bring you our own special Festive Tax Tips.

Festive Tax Tip: Company cars and the provision of fuel

Do you currently have a company car and are concerned at the tax charge on the provision of this benefit in kind? One of the factors which affect the calculation of this benefit is the CO2 emissions of the car.

Switching to a “green” car with a low CO2 emissions figure can significantly reduce your car benefit in kind and result in a tax saving to you. More cars are being manufactured with the low CO2 emissions with Lexus and Mercedes being the latest car manufacturers to launch their range of “green” cars. Therefore, if you are looking at renewing your company car, it is worthwhile looking into this before making any decision.

The CO2 emissions for a vehicle can be obtained from the relevant car dealer or at http://carfueldata.direct.gov.uk