OMG another post around P11D – anyone would think we’ve a product to sell! 🙂 I know, I know, it’s like crime in a multi storey car park – wrong on so many levels…
See the graph? It shows the total tax and NIC on company cars collected via P11d over a nine year period. Remember 50% of the total take from P11d is from Cars – it’s important. And the blue line – the total number of company cars.
Yes, more tax and NIC from fewer cars. If the trend continues we calculate that we’re two years off HMRC taking £3bn from company cars. Unless of course people opt out….
I wonder what we’ll see next from The Chancellor’s Magic 8 ball of employment tax policy?