How do I calculate the vehicle benefit amount to be taxed?

Within Cintra iQ, you can set up the company vehicle benefits to be payrolled for each PAYE scheme in a given tax year. Before you can calculate the vehicle benefit, you need to create a vehicle record(s) and assign it to the employee.

 

To calculate

1. Navigate to the employee's Payslip & Period Summary form. Go to Cintra iQ: Employment record> Forms> Payslip
2. Click the Calculate button. The vehicle/fuel/mileage allowance taxable benefit is automatically displayed on the Gross to Net Summary tab with the tax that is paid to HMRC.
3. Click the OK button. The Payslip is closed.
   

     Note:

   The payrolled benefit also appears in the Payrolled Benefits tab of the Payroll Period Input and Corrections window.