Company Car Benefit Rules

P11D Value

The taxable value of a company car is based on the List Price after certain adjustments. This is often called the 'P11D' value - this is a reference to the number of the official form used to report taxable benefits such as company cars.

What is the 'P11D Value' or 'List Price'?

For company car benefit purposes 'List Price' has a specific definition. It's the price of the car as published by the manufacturer, official importer or wholesale distributor of the car on the day before the car’s first registration.

The word 'distributor' doesn’t include a local retail dealership, which means that a dealer's after discount, on-the-road price is ignored.

What's in the 'P11D Value' or 'List Price'?

Here’s what’s included in the definition of List Price or P11D Value:

the basic price of the car;
the price of any options or accessories fitted to the car prior to delivery, plus any accessories fitted to the car after delivery where the accessory costs more than £100;
delivery charges; number plates; and
VAT on all of the above.

Here’s what’s not included in the definition of List Price:

Vehicle Excise Duty (the "tax disc");
the initial first Registration Fee;
any delivery fuel provided with the vehicle;
the cost of equipment to enable a chronically sick or disabled person to drive the car;
the cost of adapting the car for a registered disabled driver or of options/accessories required by such a driver to be able to drive the car (e.g. an automatic gearbox);
the cost of “retro-fitting” the car to run on LPG/CNG (i.e. where the equipment is fitted after delivery) if the car does not have a recognised gas-based CO2 output.

Click on the following link to see more about the calculation of company car benefit.

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