- Company car drivers now have help via new Volvo app
- Amalgamates a range of costs into a single reference point
- Free-to-use app does not need to be downloaded
Volvo UK has launched a free web-based app for business customers to use, in the hope of simplifying the process of calculating company car running costs.
Users can simply save a bookmark on their phone to the link here, which does not require a specific app to be downloaded.
Named Fleet Tax Guide, the app has been released alongside the 2017 tax changes and collates a range of figures to provide a single point of reference for company car costs.
- Tax rates and allowances
- National Insurance Contributions (NIC) rates and thresholds
- Capital allowances
- Benefit-in-Kind (BIK) tax
- OLEV and hybrid grant
- Vehicle Excise Duty (VED)
- Approved Mileage Allowance Payments
The Benefit-in-Kind tax calculator section simply requires the list price, CO2 emissions figure, fuel type and whether you are a basic-, higher- or additional-rate taxpayer.
For a diesel-fuelled Volvo S90 D4 Momentum Pro, entering the £36,365 price with the 116g/km CO2 figure results in the app calculating the specific vehicle's BIK tax bracket along with the monthly tax figure for three consecutive years.
There is also the option to factor in the monthly tax liability depending on whether you fund your own fuel or not.
The app is supported by Apple iOS (7+), Google Android (3+), Windows Phone (8+) and Blackberry OS (7+) devices and aims to provide the most up-to-date information to cater for any change in rules or rates.