Benefits in Kind Car and Fuel

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A-Vic
A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
in AAT Level 4 (Level 8 in Scotland)
Hi all just another quick one

Can someone explane the equation on working out the percentage for the above we did it in class but wasnt sure and found myself getting lost with it.

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  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    Can i add my tutor is full of flu and ended up going home poorly bless so i dont blame her
  • dobbieobby
    dobbieobby Registered Posts: 231 Dedicated contributor 🦉
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    Easy!
    Say the petrol car cost £16000 and fuel ommisions are 172:

    Round down 172 to 170

    170 - 135 = 35

    35 / 5 = 7%

    Add on 15% to the 7% (and another 3% if it's diesel) = 22%

    £16000 * 22% = £3520

    Fuel is ONLY on £16900, check the question, if the company pays it you do £16900 * 22% = £3718.

    If the employer pays it, it's not a 'benefit' so ignore it.

    Tad darrrrrrrrr!!! :-)
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    perfect ty it now makes sence i think i just needed to see it in front of me

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