Your employee had the use of an employer-provided vehicle for 153 days for 2023. The Original Market Value (OMV) of the car is €28,000 and it is a Category C vehicle.
The employee travelled 12,000 business kilometres in 2023. He paid €750 that year towards the running costs of the car.
Annualised business kilometres for the year is worked out as 12,000 kilometres x 365/153 = 28,627 kilometres.
The cash equivalent is equal to the OMV x 24% (kilometres driven between 26,001 and 39,000).
This is then reduced to reflect the number of days the car was actually in use.
Calculation of taxable benefit
|
Calculation | Value |
Cash equivalent |
€28,000 x 24% x 153 / 365 |
€2,817 |
Amount paid for running costs |
|
€750 |
Taxable benefit |
|
€2,067 |