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Fuel card tax implications

  • 31-10-2013 9:06pm
    #1
    big_moe
    Registered Users, Registered Users 2 Posts: 1,985 ✭✭✭


    Hi,

    I have been offered a fuel card in work but I am having trouble finding how much I'll be liable for tax wise. I have a private car and the fuel card can be used for private or business miles. I don't do a huge amount of business miles, maybe 3,000km per year and about 12,000km private

    A value of €4k/year has been put on the fuel card, is that €4k essentially added on to my salary for tax purposes and I'm taxed accordingly?

    I can claim mileage back on any business miles I do anyway..

    I'm just wondering am I better off taking the fuel card and having all my petrol paid (and paying extra in tax) or asking for the €4k as money in my wages and pay for my own fuel.. I would be spending in the region of €4k a year on fuel anyway..


    thanks


Comments

  • #2
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    If you get it through work they account for the bik. Let their payroll do it


  • #3
    D_J_S
    Registered Users, Registered Users 2 Posts: 1 ✭D_J_S


    Hi,

    Did you get the fuel card in the end and if so did it cost much in taxation?

    My company pushing us to take fuel cards no so just wondering.

    Thanks.


  • #4
    [Deleted User]
    Posts: 24,714 ✭✭✭✭ [Deleted User]


    The people I know who have fuel card as a perk rather than for business miles basicaly get it treated like addational income.

    Spend 500 euro on petrol in a month is the equivalent of getting paid 500 euro more so they pay tax at the marginal rate, USC etc. Bacially for someone on the higher rate of tax you are paying 50% tax so you get your fuel at half price.


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