Personal Finance Spreadsheet 33357 | Vimcar Tco Company Car

Partial file snippet.

Sheet 1: Car calculator

	
	
	
	
	
	
	
	
	
		
 
		
		COMPANY CAR TCO CALCULATOR
		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		The Facts
		

		

		

		

		

		

		

		

	
	
		INSERT THE VARIABLES HERE:
		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		Car Make and Model
		Enter details
		

		

		

		

		

		

		

	
	
		List Price of Car plus Accessories
		20,000
		

		

		

		Estimated Private Mileage
		7,000
		

		

	
	
		Actual Price paid for Car
		18,000
		

		

		

		Estimated MPG
		60
		

		

	
	
		Residual Value
		10,000
		

		

		

		Estimated Fuel Cost ( £ per litre)
		1
		

		

	
	
		Expected Ownership Period (Years)
		3
		

		

		

		Estimated Annual Insurance Costs
		500
		

		

	
	
		CO2 Emissions (g/km)
		110
		

		

		

		Estimated Annual Road Tax
		100
		

		

	
	
		Diesel (y/n)
		n
		

		

		

		Estimated Annual  Maintenance & Servicing
		400
		

		

	
	
		Employee Tax Rate (incl. employee NI)
		42.00%
		

		

		

		Employer Finance Interest Rate
		0
		

		

	
	
		Estimated Business Mileage
		4,000
		

		

		

		Employee Finance Interest Rate
		0
		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		RESULTS
		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		Provision of a company car
		

		

		

		

		Provision of a personal car
		

		

		

	
	
		

		No Fuel
		With Fuel
		

		

		

		No Fuel
		With Fuel
		

	
	
		

		

		

		

		

		

		

		

		

	
	
		Total Cost for Employee (per annum)
		£2,126.00
		£3,367.56
		

		

		Salary that could be paid (neutral cost to the employer)
		£2,386
		£3,363
		

	
	
		

		

		

		

		

		

		

		

		

	
	
		Total Cost for Employer (per annum)
		£4,515.33
		£5,627.33
		

		

		Cost to employee of providing the car
		£2,715
		£2,097
		

	
	
		

		

		

		

		

		

		

		

		

	
	
		"No Fuel" means no element of private use fuel is provided by employer
		

		

		

		

		

		

		

		

	
	
		"With Fuel" means private use fuel is provided by employer
		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		Conclusion
		

		

		

		

		Notes
Worksheet applies to petrol or diesel cars only. For LPG or other technologies, please ask.
All figures based on 2016/17 Tax Rates and Allowances.

Professional advice should always be taken before any decision is made as to the provision or otherwise of an employer provided motor car. No responsibilty is accepted for any actions taken or not taken as a result of the information produced on this worksheet.
		
	
		

		

		

		

		

		
	
		Provide a company car without fuel
		

		

		

		

		
	
		

		

		

		

		

		
	
		Anticipated total savings (per annum)
		£589
		

		

		

		
	
		versus private ownership
		

		

		

		

		
	
		

		

		

		

		

		
	
		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		WANT TO GET TO KNOW VIMCAR BETTER?
		
	
		CLICK TO GET A FREE BROCHURE
		CLICK TO GET FREE FLEET ADVICE
		
	
		

		

		

		

		

		

		

		

		

	
	
		BOX 1
		

		

		BOX 2
		

	
	
		Facts
		

		

		

		

		Instructions for Use
		

		

		

	
	
		List Price of Car plus Accessories
		20,000
		

		

		

		

		

		

		

	
	
		Actual Price paid for Car
		18,000
		

		

		

		1. Insert all variables for the specific car in the shaded areas in "The Facts".
		

		

		

	
	
		Residual Value
		10,000
		

		

		

		

		

		

		

	
	
		Expected Ownership Period (Years)
		3
		

		

		

		2. Box 3 shows the costs to the employer of providing the car in question.
		

		

		

	
	
		CO2 Emissions (g/km)
		110
		

		

		

		

		

		

		

	
	
		Diesel (y/n)
		n
		

		

		

		3. Box 4 shows the costs to the employee of providing the car in question at a neutral cost to the employer.
		

	
	
		Employee Tax Rate (incl. employee's NI)
		42%
		

		

		

		

	
	
		Estimated Business Mileage
		4,000
		

		

		

		

		

		

		

	
	
		Estimated Private Mileage
		7,000
		

		

		

		4. Box 5 shows the tax efficient answer including the taxes saved (in broad terms).
		

	
	
		Estimated MPG
		60
		

		

		

		

	
	
		Estimated Fuel Cost ( £ per litre)
		1
		

		

		

		5. This worksheet assumes the user has a basic knowledge of the rules for the taxation of employer provided motor vehicles. Professional advice should always be taken before any decision is made as to the provision or otherwise of an employer provided motor car. No responsibilty is accepted for any actions taken or not taken as a result of the information produced on this worksheet.
		

	
	
		Estimated Annual Insurance Costs
		500
		

		

		

		

	
	
		Estimated Annual Road Tax
		100
		

		

		

		

	
	
		Estimated Annual  Maintenance & Servicing
		400
		

		

		

		

	
	
		Employer Finance Interest Rate
		1%
		

		

		

		

	
	
		Employee Finance Interest Rate
		10%
		

		

		

		

	
	
		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		BOX 3
		

		

		BOX 4
		

	
	
		Provision of a Company Car
		

		

		

		

		Provision of a Personal Car
		

		

		

	
	
		

		No Fuel
		With Fuel
		

		

		

		No Fuel
		With Fuel
		

	
	
		Employee Position with Company Car
		

		

		

		

		Cash Equivalent if Employee Provides Car
		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		Base Car Benefit Percentage
		19%
		

		

		

		Cost to employer of providing car
		4,515
		5,627
		

	
	
		Diesel Supplement
		0%
		

		

		

		Less mileage allowance paid to employee
		(1,800)
		(1,800)
		

	
	
		Cap
		0%
		

		

		

		Available to be paid as salary and employers NI
		2,715
		3,827
		

	
	
		Car Benefit Percentage
		19%
		

		

		

		Less employers' NI @ 13.8%
		(329)
		(464)
		

	
	
		

		

		

		

		

		Additional salary for employee
		2,386
		3,363
		

	
	
		Taxable Benefit for Car
		3,800
		3,800
		

		

		Less Income tax & employees NI
		(1,002)
		(1,412)
		

	
	
		Taxable Benefit if Private Fuel Provided
		

		4,218
		

		

		Net Salary for Employee (per annum)
		1,384
		1,951
		

	
	
		

		3,800
		8,018
		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		Tax Cost of Car to Employee
		1,596
		3,368
		

		

		Cost to Employee of Providing the Same Car
		

		

		

	
	
		Cost of Private Fuel
		530
		

		

		

		

		

		

		

	
	
		Total Cost for Employee (per annum)
		2,126
		3,368
		

		

		Cash for Employee as above
		(1,384)
		(1,951)
		

	
	
		

		

		

		

		

		Finance Costs
		1,400
		1,400
		

	
	
		

		

		

		

		

		Depreciation of car
		2,666
		2,666
		

	
	
		Cost to Employer of Providing Company Car
		

		

		

		

		Insurance, Tax, Servicing
		1,000
		1,000
		

	
	
		

		

		

		

		

		Business fuel
		303
		252
		

	
	
		Depreciation of car
		2,666
		2,666
		

		

		Private fuel
		530
		530
		

	
	
		Finance Costs
		140
		140
		

		

		

		4,515
		3,897
		

	
	
		Insurance, Tax, Servicing
		933
		933
		

		

		Mileage allowance received from employer
		(1,800)
		(1,800)
		

	
	
		Business Fuel
		252
		252
		

		

		Employee net cost of car (-ve = profit)
		2,715
		2,097
		

	
	
		Private Fuel if provided
		

		530
		

		

		

		

		

		

	
	
		Class 1A NI @13.8%
		524
		1,106
		

		

		

		

		

		

	
	
		Total Cost for Employer (per annum)
		4,515
		5,627
		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		BOX 5
		

		

		

		

		

		

	
	
		Conclusion
		No Fuel
		With Fuel
		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		Savings from providing personal car
		0
		1,271
		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		Savings from providing company car
		589
		0
		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		

		

		

		

		

		

		

		

		

	
	
		"No Fuel" means no element of private use fuel is provided by employer
		

		

		

		

		

		

		

		

	
	
		"With Fuel" means an element of private use fuel is provided by employer
		

		

		

		

		

		

		

		

	
	
		Worksheet applies to petrol or diesel cars only. For LPG or other technologies, please ask
		

		

		

		

		

		

		

		

	
	
		All figures based on 2016/17 Tax Rates and Allowances

The words contained in this file might help you see if this file matches what you are looking for:

...Sheet car calculator company tco the facts insert variables here make and model enter details list price of plus accessories estimated private mileage actual paid for mpg residual value fuel cost pound per litre expected ownership period years annual insurance costs co emissions gkm road tax diesel yn n maintenance amp servicing employee rate incl ni employer finance interest business results provision a personal no with total annum salary that could be neutral to providing quot means element use is provided by conclusion notesworksheet applies petrol or cars only lpg other technologies please askall figures based on rates allowancesprofessional advice should always taken before any decision made as otherwise an motor responsibilty accepted actions not result information produced this worksheet provide without anticipated savings versus want get know vimcar better click free brochure fleet box instructions all specific in shaded areas shows question at s efficient answer including taxe...

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	COMPANY CAR TCO CALCULATOR

The Facts
INSERT THE VARIABLES HERE:

Car Make and Model	*Enter details*
List Price of Car plus Accessories	*20,000*			Estimated Private Mileage	*7,000*
Actual Price paid for Car	*18,000*			Estimated MPG	60
Residual Value	*10,000*			Estimated Fuel Cost ( £ per litre)	1
Expected Ownership Period (Years)	3			Estimated Annual Insurance Costs	*500*
CO2 Emissions (g/km)	*110*			Estimated Annual Road Tax	*100*
Diesel (y/n)	n			Estimated Annual Maintenance & Servicing	*400*
Employee Tax Rate (incl. employee NI)	*42.00%*			Employer Finance Interest Rate	0
Estimated Business Mileage	*4,000*			Employee Finance Interest Rate	0


RESULTS

Provision of a company car				Provision of a personal car
	No Fuel	With Fuel			No Fuel	With Fuel

Total Cost for Employee (per annum)	£2,126.00	£3,367.56		Salary that could be paid (neutral cost to the employer)	£2,386	£3,363

Total Cost for Employer (per annum)	£4,515.33	£5,627.33		Cost to employee of providing the car	£2,715	£2,097

"No Fuel" means no element of private use fuel is provided by employer
"With Fuel" means private use fuel is provided by employer

Conclusion				Notes Worksheet applies to petrol or diesel cars only. For LPG or other technologies, please ask. All figures based on 2016/17 Tax Rates and Allowances. Professional advice should always be taken before any decision is made as to the provision or otherwise of an employer provided motor car. No responsibilty is accepted for any actions taken or not taken as a result of the information produced on this worksheet.

Provide a company car without fuel

Anticipated total savings (per annum)	£589
versus private ownership




WANT TO GET TO KNOW VIMCAR BETTER?
CLICK TO GET A FREE BROCHURE			CLICK TO GET FREE FLEET ADVICE

BOX 1				BOX 2
Facts				Instructions for Use
List Price of Car plus Accessories	20,000
Actual Price paid for Car	18,000			1. Insert all variables for the specific car in the shaded areas in "The Facts".
Residual Value	10,000
Expected Ownership Period (Years)	3			2. Box 3 shows the costs to the employer of providing the car in question.
CO2 Emissions (g/km)	110
Diesel (y/n)	n			3. Box 4 shows the costs to the employee of providing the car in question at a neutral cost to the employer.
Employee Tax Rate (incl. employee's NI)	42%
Estimated Business Mileage	4,000
Estimated Private Mileage	7,000			4. Box 5 shows the tax efficient answer including the taxes saved (in broad terms).
Estimated MPG	60
Estimated Fuel Cost ( £ per litre)	1			5. This worksheet assumes the user has a basic knowledge of the rules for the taxation of employer provided motor vehicles. Professional advice should always be taken before any decision is made as to the provision or otherwise of an employer provided motor car. No responsibilty is accepted for any actions taken or not taken as a result of the information produced on this worksheet.
Estimated Annual Insurance Costs	500
Estimated Annual Road Tax	100
Estimated Annual Maintenance & Servicing	400
Employer Finance Interest Rate	1%
Employee Finance Interest Rate	10%


BOX 3				BOX 4
Provision of a Company Car				Provision of a Personal Car
	No Fuel	With Fuel			No Fuel	With Fuel
Employee Position with Company Car				Cash Equivalent if Employee Provides Car

Base Car Benefit Percentage	19%			Cost to employer of providing car	4,515	5,627
Diesel Supplement	0%			Less mileage allowance paid to employee	(1,800)	(1,800)
Cap	0%			Available to be paid as salary and employers NI	2,715	3,827
Car Benefit Percentage	19%			Less employers' NI @ 13.8%	(329)	(464)
				Additional salary for employee	2,386	3,363
Taxable Benefit for Car	3,800	3,800		Less Income tax & employees NI	(1,002)	(1,412)
Taxable Benefit if Private Fuel Provided		4,218		Net Salary for Employee (per annum)	1,384	1,951
	3,800	8,018

Tax Cost of Car to Employee	1,596	3,368		Cost to Employee of Providing the Same Car
Cost of Private Fuel	530
Total Cost for Employee (per annum)	2,126	3,368		Cash for Employee as above	(1,384)	(1,951)
				Finance Costs	1,400	1,400
				Depreciation of car	2,666	2,666
Cost to Employer of Providing Company Car				Insurance, Tax, Servicing	1,000	1,000
				Business fuel	303	252
Depreciation of car	2,666	2,666		Private fuel	530	530
Finance Costs	140	140			4,515	3,897
Insurance, Tax, Servicing	933	933		Mileage allowance received from employer	(1,800)	(1,800)
Business Fuel	252	252		Employee net cost of car (-ve = profit)	2,715	2,097
Private Fuel if provided		530
Class 1A NI @13.8%	524	1,106
Total Cost for Employer (per annum)	4,515	5,627



BOX 5
Conclusion	No Fuel	With Fuel

Savings from providing personal car	0	1,271

Savings from providing company car	589	0



"No Fuel" means no element of private use fuel is provided by employer
"With Fuel" means an element of private use fuel is provided by employer
Worksheet applies to petrol or diesel cars only. For LPG or other technologies, please ask
All figures based on 2016/17 Tax Rates and Allowances

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