Car Lease Calculator
Recently released data from the government has revealed that the number of employees paying benefit in kind (BIK) car tax has increased for the first time in 10 years.
The provisional data from HMRC shows that 950,000 employees paid BIK tax on a company car in 2014/15 – a 1% rise on the 940,000 recorded in the previous financial year.
If you’re one of these people, chances are you will be looking for a car lease calculator to help you calculate the Benefit In Kind tax value of driving a company car for private use.
There are many car tax calculators that will calculate this for you, along with any applicable car fuel benefit. We have listed two of the best below.
HM Revenue & Customs company car tax calculator
HM Revenue & Customs has an excellent company car and car fuel benefit calculator that allows you to
- calculate the 'benefit in kind' value of a company car and any applicable car fuel benefit
- estimate the income tax payable for the provision of the company car and car fuel benefit
AA Benefit in Kind rates
Since April 2002 company car tax has been based on a car's list price for tax purposes and official C02 emission figure.
The AA has a variety of useful tool that will tell you the percentage of benefit in kind over the course of a year