Car and fuel benefit calculator
The car and fuel benefit calculator on HMRC’s website has been updated. The calculator is intended to help work out the car benefit charge where a company car is provided to an employee for their own private use. The calculator is also intended to work out the fuel benefit charge where an employer provides fuel to employees for private use.
The online calculator has been updated to allow for calculations that cover 2010-11. The calculator can also be used for tax years as far back as 2004-5. The 2010-11 calculations will include measures announced at Pre-Budget Report 2009. These calculations will remain provisional until the announced measures become law and pending any further changes which affect 2010-11 in the 2010 Budget.
The main changes affecting the 2010-11 calculations are:
- The lower threshold (the CO2 emissions figure which sets the 15 per cent rate) is reduced from 135 to 130 g/km.
- The appropriate percentage for cars powered solely by electricity has been reduced to 0% for five years.