Just in the process of completing my online tax return, my calculations are that I am going to owe somewhere in the region of £200 as a result of some self-employed work I did last year after I was made redundant.
My previous employment permitted me the use of a company car, the P11D value for the year was deemed to be £2029.
However, I only had use of the vehicle from April until the end of August, five months (when I was made redundant).
If I input this figure (£2029) into the relevant section of the online form and proceed to completion, I apparently owe the best part of £500 to HMG.
If I input (£2029 / 12) * 5 then the calculation comes out at me owing £237 which is pretty much where my calculation sits.
Am I correct in prorata-ing the car benefit as I have - there is no mention anywhere on the website about part year benefits, it seems to assume that the benefit has been available for the full tax year (the "help" notes in respect of this even tell you to input the figure as found on the P11D).
All advice appreciated.