Car Benefit

The taxable benefit is calculated as a percentage of the list price of the car, when new, plus certain accessories. The percentage is based on the car's CO2 emissions, measured in grams per kilometre. That figure can be found, for cars registered on or after 1 January 1998:

*on the car's V5 registration document
*from your dealer
*in the data pages of some car magazines (current models only), or

from the website of the Society of Motor Manufacturers and Traders - see http://www.smmt.co.uk/co2/co2search.asp#
The minimum taxable percentage is 15%, for those cars running on petrol and emitting less than 170 g/km of carbon dioxide. This rises to 35% for petrol cars with emissions of 265 g/km, or more. For diesel powered cars there is a 3% "supplement", but the maximum remains 35%.

Once you have ascertained your car's CO2 emissions rate, you can find your taxable percentage for 2002/03 using the following table:

Van Benefit

Van under 4 years old: £500
Van 4 years old or over:£350

Notes

The list price relates to the day before first registration and includes accessories. The price is subject to an upper limit of £80,000.

The list price is reduced by the employee’s capital contribution when the car is first made available, subject to a maximum deduction of £5,000.

Special rules apply to cars at least 15 years old with a market value of £15,000 or more.

Van benefit includes fuel for private use.

Payments by employees for private use may reduce the above benefits.

Car Fuel Benefit

2002/3

Notes

Car fuel benefit is reduced to nil if the employee pays for all private fuel.