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Car Tax
The government works closely
with the vehicle manufacturers to provide the
latest Fuel Consumption and CO2 Emissions figures
for all of the vehicles currently available.
From 6 April 2002, the tax
charge on a company car is based on a percentage of
its list price arrived at as follows:
Find the CO2 emission rating of
the car (measured in grams per km). The definitive
CO2 figure is recorded on the V5 vehicle registration
document for cars registered after November 2000.
Round the figure down to the nearest
5g/km.
Referring to the table below, use
the rounded down figure to find the percentage figure
to be applied. The minimum is 15%; the maximum is
35%. Diesel cars attract a 3% supplement, but the
supplement will not be added if the car achieves the
Euro IV emissions standard.
The taxable benefit is the
list price of the car when new multiplied by the percentage
figure from the table. The list price is subject to
a price cap of £80,000. Therefore, a 40% tax
payer will pay 40% of this figure over the year and
a 22% tax payer will pay 22% of the figure.
Example
A vehicle that falls into the
20% band - with a P11D value of £15,000 will cost
a 40% tax payer £1,200 a year (equivalent to 40%
of '20% of £15,000')
