Can anyone just give me some guidance / clarification on taxation of assessible benefit in kind (Car).
I don't need to know about model / CC / Emissions - that's just arriving at the taxable charge.
What I do want to know is:
(a) Is the tax charge made on the assessable benefit in kind (car) by adjusting the following year's (CY+1) tax code? ie current year (and next for sake of example) standard code is 647L; assessable benefit is £6000 per year, so CY+1 tax code would come down to 47L. Looking at the HMRC blurb, I think this is the case.
There is also the option to pay the tax on the assessable benefit in CY if you let HMRC know?
I don't need to know anything else, but some confirmation on point (a) would be appreciated.
