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Hi I have a company car worth £19500. On my P11d it’s show as £6000 which I pay 20% tax so £100. At the moment I pay maintenance on £40000 (p60) + £6000 (p11d) so £46000.
I will getting a new company car that will be pure electric. I know the tax which will be 2% will be approx £15-16 a month. The value of the car is approx £44500.
The question I want to ask is what will be the p11d value? So that I have rough idea what the cams will use to calculate the maintenance payments.
I hope this makes sense and thank you in advance.
It might be worth ringing CMS to ask them what value is used (or what basis the calculation is made on), that way you know what to expect.
My experience would suggest the P11D value is what will be used. So if your benefit in kind is only 2% compared to much higher for a combustion engine vehicle, then CMS should use that lower figure to add to your income. It is an efficent way to reduce both company car tax and CMS.
That said, I agree with ACTD, that it is easy to call/message them and ask. You are not exposing yourself to any risk in this way, it is a straight forward question.
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