 |
 |
|
|
The car has been changed in the year. Why is IRIS computing too much car benefit on the second car?
How do I restrict fuel benefit where it is available for only part of the year?
Why was the car not brought forward to the new tax year?
Enter details of the car. Use benefits-in-kind, type 14 (and expenses type 7), for business mileage in the client's own car. Alternatively, the car benefit value may be entered directly as a benefit-in-kind, type 29 and the fuel benefit as type 30. This is useful when copying amounts from a third party form P11D.
Make/Model - enter the make and model of the car provided.
Registration number - enter the registration number of the car
Fuel type - click the magnifying glass to select the type, click here for more details.
Date - enter the date the car was first registered click here for more details.
Business mileage - click the magnifying glass to select the mileage range, click here for more details.
Additional car - if the client has two cars provided by the company AT THE SAME TIME, select the additional car flag for the second (third, fourth, fifth! and so on) car. Do not select where a car is replaced - it should be selected only when the client is provided with two cars concurrently. If selected the car benefit is higher. From 2002-03 onward this flag no longer applies and it is not shown on the screen.
Car benefit based on
CO2 emissions - click here for more details.
Engine size - click here for more details
Purchase list price/Market value - purchase list price; should include any car tax, VAT and delivery charges as well as all accessories fitted when delivered. The list price will automatically be capped at the Revenue limit (currently £80,000). For classic cars, cars more than 15 years old, enter the market value at the end of the tax year if this is more than £15,000 and more than the original list price.
Total value of accessories added - enter the value of any accessories added
Capital contribution - enter the amount of any capital contribution of up to £5,000 made when the car was purchased
Total - this amount is calculated automatically by IRIS as follows
Purchase price or market value plus qualifying accessories less capital contribution (max £5,000). The result is capped at £80,000.
at % - the percentage was fixed at 35% up to 1998-99. From 1999-2000 to 2001-02, the percentage was 15%, 25% ort 35% depending on business mileage. From 2002-03 onwards, it is based on the carbon dioxide emissions. Where there are no recorded carbon dioxide emissions or where the car was registered prior to 1/1/98 use the business mileage scale
Car benefit - click here for more details.
Private contributions - enter the value of any contributions made to private use, this amount will be deducted from the Car benefit value calculated by IRIS
Car benefit - this is computed automatically by Iris and is the taxable car benefit after deducting any contributions towards private use.
Date car acquired and relinquished - ONLY enter dates here if they fall within the current tax year, if the car was available all year leave both date fields blank
Car fuel scale rate applies - select this option to prompt iris to calculate the fuel benefit associated with the car provided
Date fuel provision started/ceased - ONLY enter dates here if they fall within the current tax year, if the benefit was available all year leave both date fields blank NOTE these dates only apply from 2003-04 onwards and are not shown in earlier years.
Fuel Benefit - click here for more details
