PTC December 07 question

renae

Help,

Regarding the car bik, she has a company car & the company pay for the fuel etc, so I understand that I tax her on the £14,400 etc. But it goes on to say that she pays a contribution towards the fuel of £80 per month - why is this then not deducted from her bik??

Also, I am finding shares an absolute nightmare...any basic formulas would be a great help x

Bluewednesday

Any contribution to private fuel (unless it is a complete payback) is not counted and ignored. This is often put in to test students!

Capital contributions for a car are counted but anything less than full reimbursement for private fuel is ignored.