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bigduckontax
bigduckontax, Accountant
Category: Tax
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What implications are there employee who wants to use

Customer Question

What implications are there for an employee who wants to use his own vehicle for business use, the company will provide a fuel card and a contribution to the upkeep of his vehicle?
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to assist you with your question. If your employer goes down this route they will end up with having to submit a P11D, notification of a benefit in kind upon which the employee will be taxed. A far simpler solution, and one operated by most organisations, is to pay a miieage allowance. The maximum is 45p per mile, a rough and ready twist of the spoon to stop the treacle running off so to speak, taking into account both running and capital costs. If they pay at a lower rate then the difference between the rate paid and 45p can be claimed as an expense in employment on the employee's annual self assessment tax return. I do hope that my reply has been of assistance and shown you a way forward.
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Expert:  bigduckontax replied 1 year ago.
Thank you for your support.

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