Discount to taxable benefit for company cars capable of running on bioethanol.

The taxable benefit regime for employer-provided cars changed in April 2002 so it is calculated on between 15% and 35% of the list price in 1% increments related to CO2 emissions. From 6 April 2008, there will be a 2% discount to these percentages for company cars which are capable of being run on "E85 Fuel" (fuel containing at least 85% bioethanol).

For employees provided with free or cheap fuel, the benefit is calculated by applying the above percentage to a pre-set figure known as the multiplier. The multiplier for 2006/07 was £14,400 and it will be frozen for 2007/08.

If you would like further information on this issue, please contact Guy Abbiss, Tracey Horne or Colin Kendon

Autor

Kendon-Colin

Colin Kendon

Partner
Großbritannien

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