For
cars registered from 1 January 1998 with no CO2
emissions figures, the tax
charge is 15% of the list price
for engines up to 1,400 cc, 22% for engines
of 1,401
cc to 2,000 cc and 32% for engines above 2,000 cc.
The
list price includes accessories and is subject to an upper limit of £80,000.
List price is reduced for capital contributions made by the employee up
to £5,000.
Employee contributions reduce the taxable benefit pound for pound.
There are various discounts on the percentages for cars driven on alternative fuels.
Fuel Benefits The car fuel benefit is calculated by applying the above
car benefit percentage
to a figure of £16,900. (2007-08 - £14,400)
The fuel benefit
charge is proportionately reduced if provision of private fuel ceases part way
through the year.
The fuel benefit is reduced to nil only if the employee
pays for all private fuel.
Regulated for a range of investment business activities by the Association of Chartered Certified Accountants
