Definicja estimated benefit cost for company car

Co znaczy ESTIMATED BENEFIT COST FOR COMPANY CAR:

Estimated cost to the employer of providing a company car to the employee in the Flexible Benefits System, at the time of enrollment. The factors that influence the actual benefit cost of company car are:

Cost price of the car (or for the lease car, the leasing cost of a car) Running costs for the car (insurance, petrol, repairs, road tax) Class 1A NICs that are paid by the employer at tax year end If the employer provides free petrol for the car, a fuel scale charge applies and Class 1A NICs will be payable on the fuel scale charge at tax year end Administration costs of running a company car scheme

The actual benefit cost of any given car selected in the Flexible Benefits System depends on a combination of the factors above, which vary over time and from one car to another. However, to simulate the flexible benefit cost of providing the company car during enrollment (when many of the cost factors for the car are not yet known), only an estimated benefit cost of company car is calculated. It is defined according to employer policies, taking into consideration known factors such as car price (or leasing cost), CO2-emission rates, insurance costs, and road tax.