The Car Fuel Benefit Order, SI 2011/895, increases to £18,800 the multiplier used in ITEPA 2003 s 150 to calculate the cash equivalent of the benefit of car fuel received by an employee to whom the car benefit charge applies.
The increase, announced in the Budget, reflects indexation only. It will take effect from 6 April 2011 and will be reflected in revised PAYE codes notified to employers. The multiplier was set at £18,000 for 2010/11.
The Car Fuel Benefit Order, SI 2011/895, increases to £18,800 the multiplier used in ITEPA 2003 s 150 to calculate the cash equivalent of the benefit of car fuel received by an employee to whom the car benefit charge applies.
The increase, announced in the Budget, reflects indexation only. It will take effect from 6 April 2011 and will be reflected in revised PAYE codes notified to employers. The multiplier was set at £18,000 for 2010/11.
