During the lockdown period many employees and directors have not been using their company cars and it has been sitting on their driveway. You might think that means that the benefit of having a company car does not apply but unfortunately HMRC do not … Continue reading CAN WE “FURLOUGH” THE COMPANY CAR?
If you're an employee who drives a company car and opts for an emissions-free electric fleet car, you will pay no benefit in kind tax for the year confirms the Treasury. This ties in with the Governments plans to drastically reduce emissions … Continue reading No Benefit in Kind required for electric company cars
Q - "My employer has heard of a new combined life policy which also covers critical illnesses and claims that there is no taxable benefit on the premiums. Is this correct?" Answer … Continue reading Tax Question Of The Week – BIK ON LIFE POLICY WITH CRITICAL ILLNESS
Starting from tax year 2020/21, changes will be made to company car tax benefit-in-kind bands. These were first put forward in 2016 and finally confirmed in autumn 2017. The changes affect ultra-low emission vehicles (ULEV), which are cars with CO2 … Continue reading Company Car Tax – Changes to Benefit in Kind Tax Banding