In brief
The gross list price is the manufacturer’s recommended retail price at first registration, including optional equipment and VAT. It forms the basis for taxing private use.
What Is Included in the Gross List Price?
The manufacturer’s domestic list price on the date of first registration, plus factory-fitted optional equipment and VAT. Delivery and registration costs, as well as accessories installed later, are excluded.
Discounts, special terms, or a lower used-car purchase price do not reduce the value. A reimported vehicle is also valued using the domestic list price.
Why Is This Value So Important?
It directly determines the driver’s taxable benefit, both under the 1% rule and the 0.25% rule. It also determines whether an electric vehicle is below the price threshold for preferential tax treatment.
Where Do Fleet Records Go Wrong?
At data entry. The relevant value is stated neither in the lease agreement nor on the invoice; it comes from the price list in effect at registration. If the negotiated purchase price or net list price is used instead, payroll is wrong for the entire period of use.
A proven approach is to save the gross list price in the vehicle record when ordering and store the equipment list as evidence in the digital vehicle file.
Further reading
Fleet Management Without Excel Spreadsheets
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