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...
Benefit in Kind (BIK) tax, widely known as company car tax, is calculated by the value of the vehicle, its CO2 emissions and the employee's income tax band. Electric cars are a taxable benefit, which means employees have to pay Benefit in Kind (BIK) tax on electric company cars. How...
Additionally,Benefit in Kind (BIK) tax for electric vehicles currently sits at 2% in 2023. This rate will remain the same until 2025, where it will then increase to 3%. BIK means that if you provide your employees with a financial benefit that isn’t a part of their sa...
(100%)ofexpensesforM1.MinimalannualbenefitinkindforBEVs,FCEVs,andPHEVs:4%ofthelistvalue. Flanders:€5,000premiumin2024foranewzero- emissioncarpurchased byanaturalperson,a non-profitorganisation,oravehiclesharingplatform,withapricecapof€40,000(includingVAT). Usedzero-emissionvehiclesofatleastthreeyears...
Electric cars also make a lot of sense if you're a company car driver, since their lack of CO2 emissions means they'll cost you just 2% in Benefit In Kind tax. Will electric cars get any cheaper? As with any new technology, electric cars are likely to get cheaper as the technology ...
The benefit in kind for company cars is calculated based on the car's C02 emissions and the list price of the vehicle. From 6 April 2020, the benefit in kind for fully electric cars is being reduced to 0% for the tax year 2020-2021, increasing to 1% ...
The benefit in kind rules for electric company cars Tax implications of charging electric cars at work, at home and on the go VAT issues relating to electric cars Tax treatment of other kinds of vehicle (including hybrid cars and electric vans) Upcoming VED changes. What the future migh...
dinky city cars, so therecently arrived #1and the incoming #3 are a bit of a culture shock. The first is already on sale and is a five-door family vehicle that’s a similar size to a VW ID.3, while the new #3 is an even bigger car and is just arriving in showrooms this ...
Specialized has just unveiled the new Specialized Como SL (Super Light), an electric pedal assist Class 3 ebike designed for anyone and everyone. Building on Specialized’s decades of industry knowledge, the everyday commuter can now benefit from the same Super Light technologies that go into Sp...
Thanks for the heads up, AJ. Most of the time I’m just giving companies the benefit of the doubt when it comes to advertised shipping rates, but it’s great to get feedback like this. I’m sure that would have still been a profitable sale for VoltBike, so it’s too bad they di...