If your employer pays for all your fuel, including private journeys, then this is another taxable benefit.
One different way of running a car through your employer is a salary sacrifice scheme. In return for a new car, you agree to take a lower salary, so you pay less income tax and National Insurance. However, the car is still deemed a benefit by HMRC, so you'll still pay tax on it. Rather than seeing salary sacrifice as an alternative to a company car, it's really a company car with slightly different tax arrangements.
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Electric-car companies face test of enduranceLordstown and Lucid shares sank on disappointing estimates of how many cars they will be able to produce. Where it was once enough just to show that making a car was possible, electric-vehicle hopefuls must now prove they can make many, while squeezed by supply challenges.
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Sanders Urges Tax on Windfall Oil Profits as Companies Exploit Ukraine CrisisAs oil companies seek to profit off of Russia’s invasion of Ukraine, Bernie Sanders is calling for officials to place a tax on oil profits and implement price controls in order to lessen the effects of the crisis on the public. Darn socialists always looking out for the rest of us! Thank you Bernie Always looking out for the working class.
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