Vehicle Excise Duty (VED) is an alternative term for Road Fund License (RFL), or Car Tax. This is built into your monthly rentals, so you don't need to worry.
As illustrated below, cars with lower emissions pay less.
Cars registered on or after 1st April 2017 will be subject to the following:
|Emissions (g/km of CO2)||First Year Rate||Standard Rate|
Cars with a value of over £40,000 (including cost options, such as metallic paint) pay an annual £310 supplement for five years
Benefits in Kind (BIK) are benefits which directors or employees receive from employment which are not included in their salary or wages. Sometimes these are also called "perks" or "fringe benefits". A company car is seen as a major perk by the taxman: and as soon as you use it for a personal reason (including commuting), it is viewed as a taxable payment.
|Taxable Percentage of P11d value|
|Emissions (g/km of CO2)||2017-18||2018-19||2019-20|
To calculate how much tax you'd have to pay on a company car click here for a Benefit in Kind calculator, or: