All posts in Company Car

Income Tax Rates & Allowances and NIC's Rate for 2015-16 from today

Income Tax Rates 20% Basic Rate: £0 – £31,785 40% Higher Rate: £31,786 – £150,000 45% Additional Rate: £150,000+ Income Tax Allowances Personal Allowance for anyone born after 1938 £10,600, born before 1938 £10,660, (income limit for age related allowances is £27,700).  Blind Persons Additional Allowance £2,290. National Insurance Rates Class 1: Lower Earnings Limit (LEL) £112, Primary Earnings Threshold (PET) £155, Secondary Earnings Threshold (SET) £156, Upper Accrual Point (UAP) £770, Upper Earnings Limit (UEL) £815. Class 2: £2.80 per week, Small Earnings Exception £5,965 per annum, Special Rate for Share Fisherman £3.45 per week, Special Rate for Volunteer Development…


Company Car and Car Fuel Benefit Calculator

When a company car is made available for the private use of an employee a ‘benefit in kind’ value is calculated in relation to the car (and to the fuel if that is also made available for private use). This calculator allows you to calculate the ‘benefit in kind’ value of a company car and, if appropriate the car fuel benefit.  It provides an indication of the Income Tax you would be liable to pay for the provision of company car and car fuel benefit.

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