Tax - Cars, vans and vehicles

Recently added Tips & Advice

CORONAVIRUS - VAT - 07.07.2020

VAT trap for private use of company vehicles

In the last few months there’s been little work for two of your employees but they’ve continued to have use of their company vans, including for personal journeys. Does this affect what you need to report on your next VAT return?
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COMPANY CARS - 30.06.2020

Private fuel - getting the details right

A 2020 case highlights the risk of not getting the details right when asking company car drivers to reimburse the cost of private fuel. How can you ensure your company won’t be a hit with an unexpected NI bill?
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CARS - 22.06.2020

Who’s entitled to tax-free mileage allowances?

The lease on your company car has ended but you’re delaying a new contract until your business recovers from the lockdown. Meanwhile you’re borrowing your other half’s car when you need to travel for work. Can you claim a tax deduction for this?
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CARS - 08.06.2020

Advisory fuel rates fall significantly

New rates. HMRC has updated its advisory fuel rates (AFRs) for company cars from 1 June 2020. The old rates (shown in brackets in the table below) can be used until 30 June 2020. To avoid a car fuel benefit charge, employers and employees can compensate each other at the appropriate AFR for the cost of fuel paid for by the other. Because there’s wide variation in fuel prices across the UK you may prefer to work out your own fuel rates. HMRC will accept these as long as they are reasonable ...
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CORONAVIRUS - BENEFITS IN KIND - 01.06.2020

Reporting benefits provided during furlough

The P11D and PAYE settlement agreement deadlines are fast approaching. This time around things might be a little different - what do you need to factor in to this year’s calculations in respect of lockdown benefits?
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COMPANY CARS - 07.05.2020

Share the company car?

A friend has told you that you can save tax and NI if your company car is provided to your spouse instead of you as they pay tax at a lower rate. Are they right and if so what are the potential savings?
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Tax - Cars, vans and vehicles

Most read Tips & Advice

CARS - 08.06.2020

Advisory fuel rates fall significantly

New rates. HMRC has updated its advisory fuel rates (AFRs) for company cars from 1 June 2020. The old rates (shown in brackets in the table below) can be used until 30 June 2020. To avoid a car fuel benefit charge, employers and employees can compensate each other at the appropriate AFR for the cost of fuel paid for by the other. Because there’s wide variation in fuel prices across the UK you may prefer to work out your own fuel rates. HMRC will accept these as long as they are reasonable ...
Read more

CORONAVIRUS - VAT - 07.07.2020

VAT trap for private use of company vehicles

In the last few months there’s been little work for two of your employees but they’ve continued to have use of their company vans, including for personal journeys. Does this affect what you need to report on your next VAT return?
Read more

CARS - 22.06.2020

Who’s entitled to tax-free mileage allowances?

The lease on your company car has ended but you’re delaying a new contract until your business recovers from the lockdown. Meanwhile you’re borrowing your other half’s car when you need to travel for work. Can you claim a tax deduction for this?
Read more

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