How is the benefit in kind calculated for company cars?
In relation to company cars, there are two ways of calculating the Benefit in Kind due from each employee. The extent of the relief depends on the total number of kilometres of business travel for the year, and (if the car was first provided in 2009) the CO2 emissions of the car.
How is the assessable annual cash benefit calculated for company cars?
The assessable annual cash benefit for the use of a company car is calculated at 30% of the original market value of the car. This percentage is reduced for high business mileage as follows:
What is car leasing?
Car leasing is when you use a vehicle for a fixed time period and pay a monthly fee. Leasing is more like renting, and thus as a user/renter, you don't have any ownership over the car. After the leasing period is over, you must return the car to the owner (dealer).