P284 CEEFAX 284 Mon 11 Nov 22:16/00 1/2 CAR AND FUEL BENEFITS Car Benefit Year to 5 April 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: - bz 1/3 if annual business mileage is between 2,500 and 17,999 - by 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 end of tax year - bz contributions the employee makes for private use Source: Ernst & Young (see page 281) COT Headlines Shares OptionsP284 CEEFAX 284 Mon 11 Nov 22:58/35 2/2 CAR AND FUEL BENEFITS Year to 5 April 1997 Fuel Benefit Engine Size Petrol Diesel 1400cc or less £710 £640 1401-2000cc £890 £640 Over 2000cc £1320 £820 Reduced to nil if the employee refunds fuel used for private journeys. Source: Ernst & Young (see page 281) COT Headlines Shares Options