Forum | Please can someone help on fuel card tax??? by Bluefish

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Please can someone help on fuel card tax??? 22:46 - May 25 with 626 views

Always had a company card and lots of different ways of paying for the fuel.

My new job will not be a company car officially because they are giving me a car on am interest free loan. I will be given a fuel card for all fuel and then taxed on it. I will then claim business miles on a p87 form.

Please can someone explain this all to me. Feel free to make up some mileage numbers to help illlustrate.

I am very confused

Thank you

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Please can someone help on fuel card tax??? on 22:56 - May 25 with 603 views

Bluefish

No idea how many miles I will do but is this the right basis?

30000 miles per year
20000 of which are business miles
Use 12p as cost of miles
Use 40% tax band

30000 miles x 12p = 3600

X 40% = 1440

10000 miles at 45p = 4500
10000 miles at 25p = 2500

I get paid 7000 and it costs me 1440

This cannot be right surely???

Edit: presumably I claim 40% of 7k????

Edit 2: does this mean on this mileage and cost example I would get paid 1360 in a tax rebate and pay for no fuel??

[Post edited 25 May 2017 23:35]

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