How you can update HMRC on your company car details

mann im auto

Based on HMRC Statistics approximately 1 million employees have a company car, its the 2nd most popular benefit in kind. The most popular benefit in kind is Private Medical Insurance (2.2m employees).

Often employees will change cars or start/stop having fuel for cars during a tax year and the tax on company cars can be significant, you can use this HMRC calculator to assess the the tax.

HMRC have just introduced a new Check and Update Service for Employees so that you can make sure HMRC have the correct information

You may find that it would be better for your employer to give you a loan, beneficial loans up to Β£10,000 aren’t a taxable benefit.

There companies like Maxxia that promote salary sacrifice schemes for cars

One thought on “How you can update HMRC on your company car details

  1. I have not had a company car since 2005. I did use a car working for The Tudor Group from the 18th August 2017 for 3 weeks. I did not use the vehicle personally. I have used my own vehicle for all job since 2005. I am currently working through a recruitment agency and I am travelling 90 miles per day with no fuel allowance.

Leave a Reply