PAS Notes

Graham Whitehouse

2012 Budget Changes

By Graham Whitehouse | 28 March 12 | In: Tax News

This year’s budgetary changes that will affect P11D reporting for 2012/13 onwards.

VAT Changes in fuel scale charges

Businesses must use these new VAT fuel scale charges from the start of their next prescribed accounting period beginning on or after 1 May 2012.

CO2 Band VAT fuel scale charge, 12 month period (Gross) VAT on 12 month charge, (1/6 x Gross) VAT exclusive 12 month charge (5/6 x Gross)
120 or less £665.00 £110.83 £554.17
125 £1,000.00 £166.67 £833.33
130 £1,065.00 £177.50 £887.50
135 £1,135.00 £189.17 £945.83
140 £1,200.00 £200.00 £1,000.00
145 £1,270.00 £211.67 £1,058.33
150 £1,335.00 £222.50 £1,112.50
155 £1,400.00 £233.33 £1,166.67
160 £1,470.00 £245.00 £1,225.00
165 £1,535.00 £255.83 £1,279.17
170 £1,600.00 £266.67 £1,333.33
175 £1,670.00 £278.33 £1,391.67
180 £1,735.00 £289.17 £1,445.83
185 £1,800.00 £300.00 £1,500.00
190 £1,870.00 £311.67 £1,558.33
195 £1,935.00 £322.50 £1,612.50
200 £2,000.00 £333.33 £1,666.67
205 £2,070.00 £345.00 £1,725.00
210 £2,135.00 £355.83 £1,779.17
215 £2,200.00 £366.67 £1,833.33
220 £2,270.00 £378.33 £1,891.67
225 or more £2,335.00 £389.17 £1,945.83

Where the CO2 emission figure is not a multiple of five, the figure is rounded down to the next multiple of five to determine the level of the charge.

For a bi-fuel vehicle which has two CO2 emissions figures, the lower of the two figures should be used.

For cars which are too old to have a CO2 emissions figure, you should identify the CO2 band based on engine size, as follows:

  • If its cylinder capacity is 1,400cc or less, use CO2 band 140;
  • If its cylinder capacity exceeds 1,400cc but does not exceed 2,000cc, use CO2 band 175;
  • If its cylinder capacity exceeds 2,000cc, use CO2 band 225 or above.

Read more about Rates and Allowances

Car Fuel Multiplier

Increased from £18,800 to £20,200 from 6th April 2012.

Read more about Company Car Fuel Benefit Charge

Company Vans

The Company Van Scale charge remains the same at £3000. The Van Fuel Multiplier remains same £550 for 2012/13 and will be increased by inflation for 2013/14 in autumn 2012.

Changes to Company Car CO2 Charges

2012/13 & 2013/14

CO² emissions (g/km) 2011-12 2012-13 2013-14 onwards
1-75 (unrounded) 5% 5% 5%
76-94 10% 10% 10%
95 10% 10% 11%
100 10% 11% 12%
105 10% 12% 13%
110 10% 13% 14%
115 10% 14% 15%
120 10% 15% 16%
121-124 (unrounded) 15% 15% 16%
125 15% 16% 17%
130 16% 17% 18%
135 17% 18% 19%
140 18% 19% 20%
145 19% 20% 21%
150 20% 21% 22%
155 21% 22% 23%
160 22% 23% 24%
165 23% 24% 25%
170 24% 25% 26%
175 25% 26% 27%
180 26% 27% 28%
185 27% 28% 29%
190 28% 29% 30%
195 29% 30% 31%
200 30% 31% 32%
205 31% 32% 33%
210 32% 33% 34%
215 33% 34% 35%
220 34% 35% 35%
225 35% 35% 35%
230 35% 35% 35%

2014/15

  • CO2 rates – table increased by 1% to maximum of 35% for cars exceeding 75gms CO2/Km

2015/16

  • 3% Diesel Supplement to be removed
  • 5 Year exemption for electric cars ceases. Appropriate percentage for electric cars and low emission cars (less than 95 Gms /Km) to be 13%
  • Maximum charge increased by 2% to 37%

2016/17

  • Maximum charge remains at 37%
  • Appropriate percentage for electric cars and low emission cars (less than 95 Gms /Km) to be increased by 2% to 15%

Read more about Company Car Tax Rates

Official Interest Rate

Remains the same at 4.00%.

Find out more about the Official Interest Rate