The new tax year is here and to make calculations on company cars simpler, Volvo has created a fleet-friendly tax web app that provides a single, accurate source of information. Free to use by any business, the app helps ensure fleets and their drivers are always up to date with obligations and entitlements.
Being web-based means there are no apps to download or maintain from mobile devices, and it is ultra-friendly to use. Company car drivers can now find out all the information they need to make an informed decision in one place.
The Fleet Tax app can calculate:
Tax rates and allowances - For both personal and corporate, including lease rental restrictions
National Insurance Contribution (NIC) rates and thresholds - Employee and employer NIC rates and thresholds
Capital allowances - CO2-based first year, main pool and special-rate pool allowances to 2018
Benefit-in-Kind (BIK) - Rates to 2019/20 and fuel benefit multipliers and charges for 2017/18
OLEV and hybrid grant - This includes level of grant and eligibility criteria
Vehicle Excise Duty (VED) - Standard and first-year rates based on the new road tax rules
Approved mileage allowance payments (AMAPs) and advisory fuel rates (AFRs) - Maximum income-tax-free rates for payments to employees
How the app works:
Taking the Volvo XC90 T8 Twin Engine Momentum as an example, the app shows the range of financial benefits it attracts, including:
The Fleet Tax Guide app can be found on the Fleet Tax Guide website.
To find out more about the Volvo Fleet Tax app or Volvo for Business, call us or send us a Volvo Business enquiry