Explain the fuel benefit and the income tax and national insurance contributions consequences of an employer paying for the cost of an employee's private fuel when using a petrol driven company car registered cost £20,000 with a CO2 emission of 137 grams per kilometre and how this charge might be avoided. (tax year 2021/2022 to be used, not 2020/2021.)

Explain the fuel benefit and the income tax and national insurance contributions consequences of an employer paying for the cost of an employee's private fuel when using a petrol driven company car registered cost £20,000 with a CO2 emission of 137 grams per kilometre and how this charge might be avoided. (tax year 2021/2022 to be used, not 2020/2021.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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