Fleet tax app

Volvo Fleet Tax App

The easy way to make calculations on a company car

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:

  • Low BIK of just 9%
  • This equates to tax payable for a 40% taxpayer of just £2,174.490
  • Class 1A NIC payments for employers in 2017/2018 are just £750.17

The Fleet Tax Guide app can be found on the Fleet Tax Guide website.

Fleet Tax no longer taxing

To find out more about the Volvo Fleet Tax app or Volvo for Business, call us or send us a Volvo Business enquiry

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