Anyone know if a fuel card without a company car is seen as a taxable benefit?

I have had enough of paying for petrol and wondered if I could get one through work how much of it the taxman would take?

Does the tax increase the more you use it?

Cheers SNetters!

 

Hello

It is a taxable benefit. At the end of the year your company will submit the amount that has been spent.

You can then offset this with your business miles (if you have any).

Steve

 

So if you are in the 40% bracket that 40% of the fuel brought with the card that you will have to pay the tx man

 

Cheaper than paying for it out of taxed income

 

Has your company said that it will pay for your fuel then?

 

As Steve said it is a taxable benefit. In effect it is tax free income, so Mr Tax Man will coming looking for his slice. Last time I had one I was running a Scoob and putting in £4500 a year (this is about 4 years ago) - my tax bill was 40% of that (fortunately offset by a lot of business miles!)

 

petrol card = non taxable

fuel purchased with it = taxable
hope this answers your question

 

I am a 40% tax payer, and my fuel benefit charge is £198 p/m.

HM Revenue & Customs: CCF-Session Ended

 

Not yet but I wanted to scope it out before putting on the table as part of a negotiation

I am a 22% tax payer and so I calculated by tax bull would be circa £120/month - as I put in £200 it is surely worth a punt.

Thanks all!

 

it's £98 p/m @ 22