P234 CJ AX@2 2/,@Mon 20 Jan 00:13/43 1/3 CAR AND FUEL BENEFITS Car Benefit Year to 5 April 1997 and 98 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 - bz 2/3 if annual business mileage is 18,000 or ovjt - 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 271) CPA JOINT LIFE RATES MOVED TO 264 UPI TaxIndjx Inc Tax Main MenuP234 CJ AX@2 2/4 Sun 20 Jan 0s:32/48 2/3 CAR AND FUEL BENEFITS Year to 5 April 1997 Fuel Benefit Engine Size Petrol Diesel 1400cc or less £710 £640 1401-2000cc £<:0 £640 Over 2000cc £1320 £820 Reduced to nil if the employee refunds fuel used for private journeys. Source: Ernst & Young (see page 271) CPA JOINT LIFE RATES MOVED TO 264 UPI TaxIndjx Inc Tax Main MenuP234 CJ FAX 2 2/4 Sun 20 Jan 00:35/40 3/3 CAR AND FUEL BENEFITS Year to 5 April 1998 Fuel Benefit Engine Size Petrol Diesel 1400cc or less £800 £740 1401-2000cc £1010 £740 Over 2000cc £1490 £940 Reduced to nil if the employee refunds fuel used for private journeys. Source: Ernst & Young (see page 271) CPA JOINT LIFE RATES MOVED TO 264 UPI TaxIndjx Inc Tax Main Menu