Company Car and Car Fuel Benefit Calculator Updated
HMRC has updated the company car and car fuel benefit calculator to reflect the increase in the car fuel benefit multiplier from 6 April 2012.
The calculator:
- allows calculations of the ‘benefit in kind’ value of a company car and, if appropriate the car fuel benefit;
- provides an indication of the Income Tax that an individual would be liable to pay for the provision of company car and car fuel benefit
The calculator was updated in January 2012 to allow calculations from 2006–07 onwards. Information about forthcoming changes to the company car rules is also available at http://www.hmrc.gov.uk/cars/rule-changes.htm.