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Posted Mon, 07 Nov 2022 21:03:42 GMT by Rob Wilson
Does my Company Car class as "Income" and therefore the Benifit in Kind get added to my overall annual income? Or does is it deducted from my personal Allowance? As the answer will greatly affect if I pay basic rate or higher rate and the end of the year.
Posted Thu, 10 Nov 2022 14:44:25 GMT by HMRC Admin 32
Hi,

The benefit in kind value is treated as income.

Thank you. 
Posted Thu, 10 Nov 2022 15:59:07 GMT by Rob Wilson
But when I go to my Tax Account on the Gov Web site, it has been taken off my personal allowance for this year ?????????????????????
Posted Mon, 14 Nov 2022 14:28:53 GMT by HMRC Admin 17

Hi,
 
When calculating your tax code, it's deducted from your Personal Allowance as the employer is
not submitting it through monthly as a taxable income figure.

Thank you.

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