Company Car Tax Calculation

Volvo XC60 Recharge Plug-in hybrid T6 AWD Inscription 340hp Automatic

A company car driver can expect to pay vehicle benefit tax If the company pays for the use of fuel on private journeys, tax on fuel benefit will also be applied. Use our fuel benefit check tool to give you an indication of what this would look like.

Vehicle benefit tax

Tax year to 5th April2020/212021/222022/23
P11D value£54,325£54,325£54,325
Percentage charge14%15%16%
Benefit in kind£7,606£8,149£8,692
Tax payable at 20%£1,521£1,630£1,738
Tax payable at 40%£3,042£3,260£3,477

Fuel benefit tax

Tax year to 5th April2020/212021/22
P11D value£24,500£24,500
Percentage charge14%15%
Benefit in kind£3,430£3,675
Tax payable at 20%£686£735
Tax payable at 40%£1,372£1,470

View effect on net pay

What will my income tax be with a company car? How will a company car affect my net pay?

What are your earnings and contributions?

Earnings

Contributions

Additional tax arising from use of the vehicle (£)

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Tax Breakdown
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Assumptions used

Tax Components

On the road price including options£54,395
First-year VED£ 15
Manufacturers price date18-May-2020
Value for P11D excluding options£54,325
Taxable accessories£ 0
Non-taxable items £ 70
Capital contributions£ 0
Amount paid annually for private use of the car£ 0
Fuel type key letter A
Euro standard 6d
Electric battery range 33.0miles

The base data has been taken from the manufacturer and applied to the latest tax information. Errors or changes could arise. Send a Calculation Enquiry if there is something you don't understand or think might be incorrect. Please see the full Terms and Conditions.

Vehicle Details

CO2 emission 55 gpkm
Maximum CO2 64 gpkm
Green label
Corporation tax 18% WDA
Fuel typeplug-in hybrid
NCAP safety rating
Number of seats5
BodystyleSUV
Transmissionautomatic
Fuel consumption (mpg) mpg35.9 to 36.9
Weighted Combined Fuel consumption (mpg) mpg113.0
Number of doors5
Acceleration 0 to 625.6s
Maximum speed112.0mph
Insurance group41

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