Tell me everything

KEY POINTS

• Establish the market value of company cars.
• Establishing that a car is not available for private use.
• List price of vehicles is key for secondhand cars.
• Benefit charge on vans.

Some of my clients see the completion of P11D forms as a quick job. “We’ve got one company car and two directors with private medical that’s all ” the bookkeeper tells me “so that’s three forms and I’ve done them already.”

Years of involvement with the P11D process have made me cautious when I hear assertions like this. The company’s accounts show a van fleet and several high-end cars and I know from last year that the directors never seem to have a personal credit card on them when they go shopping.

Unless there is some careful probing for information before...