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 Accounting News & Insights

Latest Tax Club blog Released: Car tax levy could hit SME owners

26th January 2012

SME owners and their employees may face a hefty increase in tax and NIC charges when a new emissions scale for company car tax comes into play on the 6th April 2012.

An income tax charge (and Class 1A national insurance liability [currently 13.8%]) will be applied for the private use of a company car on 10% of the car’s list price where a car has CO2 emissions from 76g/km to 99g/km. For emissions of 100 g/km the rate will be 11% rising by 1% per 5g/km band, to a maximum of 35% (emissions of 220 grams per kilometre or above)...

To read more visit: http://wwtaxclub.blogspot.com/2012/01/car-tax-levy-could-hit-sme-owners.html


Accounting News & Insights

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Latest Tax Club blog Released: Car tax levy could hit SME owners

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