Company Car Tax (P11D)

oufc1976

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I picked up my first company car on 21st March 2014 so I'm not at all clued up on how the car tax works.

I know in principle what I will pay a month, I'm just not sure on WHEN I'll actually start paying it.

I asked my HR department and they've confirmed that they will send their P11Ds to HMRC for tax year 2013/14 by July.

My understanding of the P11D is that it lists all benefits received for that entire year.

So for me, presumably it will show that I had a company car for the last two weeks of the year, along with a month or so of critical illness cover and BUPA.

Does that mean then, that for the whole of tax year 2014/15, I will only pay for those two weeks of benefit, over the 12 months. So basically...not a lot!

And that in tax year 2015/16 I will begin to pay my full tax amount of circa £170 a month.

I'm sure it's simple...but it has my brain aching!
 
Thanks mate. So I'll pay the tax from last year this year. And next year the full whack from this years benefit.

Happy days. I'll worry about paying that final year when I don't have a car, when I get to it! :)
 
Thanks mate. So I'll pay the tax from last year this year. And next year the full whack from this years benefit.

Happy days. I'll worry about paying that final year when I don't have a car, when I get to it! :)

Yeah. they only start chasing you for lumps of cash when you owe them thousands. I got into a muddle with company cars and they had me down as driving a 12K Laguna when I had changed my car for a 24K Golf GTI back in the days of the old 18000 mile limit rather than this emissions malarkey. I owed them over 3K and they just adjusted my tax code to and in effect I was paying them back month by month.

Boy did that hurt my take home pay for a year, however after 12 months it was like getting a pay rise.

You can of course ring the tax office yourself and tell them you have a car now and they will act pretty much right away rather than waiting for employer.
 
lgooch:2156016 said:
Thanks mate. So I'll pay the tax from last year this year. And next year the full whack from this years benefit.

Happy days. I'll worry about paying that final year when I don't have a car, when I get to it! :)

You can of course ring the tax office yourself and tell them you have a car now and they will act pretty much right away rather than waiting for employer.

Didn't think of that! Cheers mate
 
Getting rid of mine soon as the lease is up tax code went from 953 to 441 turpin wore a mask as they say.
 
you need to contact HMRC now and report that you have a company car, it's not up to your company to do it.

tax is between the individual and HMRC.

the P11d reporting is for business use, not to report your changes.
 

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