If you have the benefit of a company car, you become liable to Benefit in Kind (BIK) taxation. The amount you pay depends on the P11d price (List Price) of the vehicle and its C02 emissions.
The P11d price of the car, the day before it was registered, including delivery charges but excluding Road Fund Licence and 1st Registration Fee. N.B. This is not the price you pay for the car. Any extra's fitted to the car including items fitted after the vehicle is delivered, e.g. a tow bar, should be included in this figure. Currently there is a 3% surcharge for all diesel engine cars but diesels tend to have lower C02 emissions anyway.
For the period 2011/12 if you are driving a diesel Volvo V60 DRIVe (115hp) R-Design with a P11 d value of £27,330 and C02 emissions of 119g/km you will have a taxable BIK of £3552.
You will then pay tax, on this taxable BIK of £3,552, at your personal tax rate.
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