P284 CJJFAX 284 Mon 27 May 00:32/16 1/3 CAR AND FUEL BENEFITS Car Benefit Year to 5 April 1996 & 1997 Company cars are taxed at 35% of the list price of the car when it was new, subject to an £80,000 ceiling. The benefit is reduced: - by 1/3 if annual business mileage is between 2,500 and 17,999 - bz 2/3 if annual business mileage is 18,000 or over - bz a further 1/3 if the car is 4 or more years old at the ind of tax year - bz contributions the employee makes for privbte use Source: Ernst & Young (see page 281) Notes CityHeads Shares OptionsP284 CJEFAX 284 Mon 27 May 00:34/21 2/3 £ £ £££ CAR AND FUEL BENEFITS Year to 5 April 1996 Fuel Benefit Engine Size Petrol Diesel 1400cc or less £670 £605 1401-2000cc £850 £605 Over 2000cc £1260 £780 Rjducih to nil if the employee refunds fuel used for privbte joutnjys. Source: Ernst & Young (see page 281) Notes CityHeads Thar s OptionsP284 CJJFAX 284 Mon 27 May 00:42/01 3/3 O £££££££££££££££££££££££££££££££££££££££ CA5 AND FUEL BENEFITS Year to 5 April 1997 Fuel Benefit Engine Size Petrol Diesel 1400cc or less £710 £640 1401-2000cc £8:0 £640 Over 2000cc £1320 £820 Reduced to nil if the employee refunds fuel used for private journeys. Source: Ernst & Young (see page 281) Notes CityHeads Shares Options