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Don’t let car Co2 emissions catch you out –Individuals – Part three

Don’t let car Co2 emissions catch you out –Individuals – Part three

Having considered how businesses are taxed what about your personal position if you have a company car?

Unfortunately some serious increases in the benefit in kind charge for zero and low emission cars come into play in the next few years.

The taxable benefit for the greenest cars increases from 5% to 15% in just a couple of years.

Also, for the less green of us, the Co2 percentages will still increase by 1-2% each year.

Remember, unlike companies, the benefit in kind charge calculation changes each year.

So it pays to make sure you understand your car’s position not only now but in the future so there are no nasty surprises.

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