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TAX CALCULATORS
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Chargeable van benefits have increased, so please use this table to determine the relevant cost:
  Standard rate (20%)
Benefit
(tax cost)		 Higher rate (40%)
Benefit
(tax cost)
Van only (benefit £3,000) £600 £1,200
Van and fuel for private use (benefit £3,500) £700 £1,400
Employer's class 1A NICs:
Van £384
Fuel £64
Notes:
  • There is no van fuel benefit at present if the employer pays for private fuel
  • If the van is unavailable for part of the year the van benefit is reduced proportionately

 

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If you want help with any of the above contact us at Lamont Pridmore for a FREE initial meeting.

 

 

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