Pro-Taxman

Company car

Running a car on the company – Benefit in kind, car allowance, company fuel cards

Despite successive Governments changing the rules to increase the tax take, the provision of company cars remains one of the more popular benefits an employer can give to an employee. Benefit in kind A director or employee who earns more than £8,500 is charged an amount as a benefit in kind (BIK) if the car …

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Company Car for Private Use

The extent to which a company car remains available for an employee’s private use explained.

Company car ‘availability’ during the Covid-19 pandemic For many, their working patterns changed as a result of the Covid-19 pandemic. Some employees were required to work from home, some were furloughed, while those with certain health conditions were required to shield. If the employee has a company car, is a deduction available for periods during …

The extent to which a company car remains available for an employee’s private use explained. Read More »

If you’re an employer, make sure you’re up to date on the latest Employer Bulletin on diesel supplements.

Employees with a company car are taxed – often quite heavily – for the privilege. The charge is on the benefit which the employee derives from being able to use their company car for private journeys. The amount charged to tax is a percentage of the ‘list price’ of the car – known as the …

If you’re an employer, make sure you’re up to date on the latest Employer Bulletin on diesel supplements. Read More »