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Tax
Employment Income and Benefit in Kind
| Question | Answer |
|---|---|
| treatment of diesel non RDE 2 vehicles | add 4% to % calculation of BiK |
| examples of BiK | cars, vans, accommodation, loans |
| elements needed for BiK calculation | list price plus accessories, CO2 emissions, type of fuel |
| work van charges BiK | 3960 flat charge additional 757 if fuel provided |
| accommodation BiK treatment when valued @ < 75,000 | taxable at higher of: 1. annual value of property (annual rent) 2. the actual rent the employer pays - for both deduct the value of rent the EMPLOYEE contributes |
| accommodation BiK treatment when values @ > 75,000 | additional charge to calculation if it was < 75,000: ((purchase price + improvements) - 75,000) * 2.25% |
| what price to use for BiK accommodation calculations when property is older than 6 years old | current value |
| if accommodation BiK original price is < 75,000 | not taxable |
| if total value of loan BiK's is < 10,000... | they are exempt |
| if loan BiK's are offered @ > commercial rate ... | they are exempt |
Created by:
amyperston
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