Tax Code notification - help

[nick2b]

Just had my tax code notification for next FY and I'm not sure it is right.

Company car benefit valued at £1894
Fuel Benefit £1105

Does this sound right, I was expecting it much lower based on comparative figures Mitsubishi published.

 

[Driver5]

Just had my tax code notification for next FY and I'm not sure it is right.

Company car benefit valued at £1894
Fuel Benefit £1105

Does this sound right, I was expecting it much lower based on comparative figures Mitsubishi published.

Dont hold me on this.... but that sounds the right number to the pound.

Its because the car RRP is £37899 (if you have a gx4) -44 co2.

Car benefit charge (2015/2016)
Tax Liability indicator: 20% 40%
Company Car Tax (2015/2016) £378.80 £757.60

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If the car was worth - £20k new, your Car Ben would be £1,000.00
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[nick2b]

Ahh, I'm being thick here aren't I.

I am thinking these were the net figures of what I'd pay, not what I'd be taxed on.
So infact, I pay 40% of the circa £3k.

Is that right? (tax, maths and money not my strong points!!).

 

[Andy]

Ahh, I'm being thick here aren't I.

I am thinking these were the net figures of what I'd pay, not what I'd be taxed on.
So infact, I pay 40% of the circa £3k.

Is that right? (tax, maths and money not my strong points!!).

You are correct in your figures, this is the best thing about the car

 

[greendwarf]

Ahh, I'm being thick here aren't I.

I am thinking these were the net figures of what I'd pay, not what I'd be taxed on.
So infact, I pay 40% of the circa £3k.

Is that right? (tax, maths and money not my strong points!!).

You are correct in your figures, this is the best thing about the car

How depressing

 

[Driver5]

I have been looking into this... .
The question is -
Employee capital contribution: or Employee payments made towards private use:

Mines - Employee payments made towards private use:

According to the details you (me to HMRC) have provided, the results are:

Car benefit charge (2015/2016) £120.00
Car fuel benefit charge (2015/2016) £0.00

if I put the same amount of to "upgrade" payment in Employee capital contribution: - the tax is £1894 for the tax year.