If you drive a company car, you may be liable to pay a Benefit-In-Kind (BIK) tax, also known as a "company car tax". The amount you're required to pay will depend on factors including the price of your vehicle (its P11D value), your vehicle's CO2 emissions, electric-only mileage...
Company car tax, officially known as Benefit in Kind Tax (BiK), is calculated based on the P11D value of the vehicle, its CO2 tailpipe emissions and the employee’s income tax band. The BiK tax rate is set by HM Treasury and usually collected through your PAYE (pay-as-you-earn). Yo...
Over 39% respondents said that benefit-in-kind tax is the most influential factor while selecting a company car. The survey of 1,000 fleet drivers also found that about 25% respondents chose car specification as the most influential factors while 17% respondents chose fuel economy....
For that cash part, you’ll be taxed at your marginal tax rate. Considering most people worked at least part of the year that they retired,their marginal tax rate on this money will likely top 40%. Now, if you have contribution room in your RRSP, you can transfer this bulk payment to...
However, from a tax and salary perspective, benefits such as maternity pay, pension contributions and tax relief, and even your mortgage could be impacted by the simple option of buying or selling your annual leave. The extent depends on what you decide, when and how you will...
Byline: ROBIN ROBERTSWestern Mail (Cardiff, Wales)
To explain something to one in great detail, often when doing so is unwelcome or unappreciated. Yes, Aunt Ida was so kind as to give me the benefit of the whole story of how she bought peaches by mistake. See also: benefit, give, of give (someone or something) the benefit of the do...
When choosing a 529 college savings plan, you can open a 529 plan from any state (not just your own). However, each state can vary widely in what they offer in terms of tax deductions and/or tax credits. So how to do you choose?
The Other Kind of Coinsurance Although more commonly known in the health insurance industry, coinsurance also exists in property insurance. The coinsurance clause in property insurance serves to penalize the insured if they fail to insure the property according to the declared coinsurance percentage. ...
Blue Shield’s first-of-its kind model diverges from the traditional approach to pharmacy care. By working directly with stakeholders, Blue Shield is able to rein in the drug rebates and hidden fees that are status quo with PBMs, making the cost of your medications not only clear,...