TAX / The fifth edition of one of the best-respected
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guides to company car tax has just been published. Tolley's Company Car Tax Guide 1987/88 is presented in the same format as previous editions, being written in largely jargon-free language, by Coopers and Lybrand, a leading firm of UK accountants.
The pocket (or glove pocket)-sized booklet is written for both employee and employer, and the company car tax position for both is clearly described. It explains, for example, how an employee may be able to reduce or even eliminate the income tax he pays on his car, and why it may not always be advantageous for him to have free petrol for private use.
The increased Inland Revenue activity on the company car tax front since the last edition was published 12 months ago is reflected in new sections covering, reporting requirements of the employer for PAYE and VAT purposes; details of the benefit position regarding parking and car telephones; guidance for the employer and employee on acceptable rates of distance allowance; and updated tables of scale rates for various car makes and models.
Tolley's Company Car Tax Guide costs 24.25 and is available from most large bookshops.