Car Benefit Changes – Company Car and Fuel Benefit Calculator now updated for Finance Act 2010
HMRC have now updated their online company car and fuel benefit calculator for Finance Act 2010. The calculator calculates the ‘benefit in kind’ value of a company car and, if appropriate the car fuel benefit. It also provides an indication of the income tax liability likely to arise from the provision of a company car and car fuel benefit.
The calculator was updated in January 2010 to allow calculations for the years 2004/05 to 2010/11 inclusive.
The relevant pages can be accessed on the HMRC website at http://www.hmrc.gov.uk/calcs/cars.htm