THE level of benefit in kind car tax you pay for receiving free fuel for your company car rises again for the 2017/18 tax year.
For the tax year 2017/18 the fuel scale charge is £22,600.
It makes deciding whether to take free fuel a more important decision than ever. Never having to pay for your fuel might sound ideal; but you pay for it in ever increasingly expensive company car tax.
So it’s important to work out if it really is worth taking free fuel for your private journeys – and whether the ‘free’ bit is actually costing you money.
How to work out if free fuel is worth it
- You will need to know the following:
- Your company car’s combined fuel consumption figure
- The CO2 emissions of your company car
- The company car tax band of your company car
- Your marginal rate of tax
- The current cost of fuel (such as the AA’s Fuel Price Report)
- And, of course, the government fuel scale charge
- Or use our Free Fuel Benefit Checker
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