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Weren't there changes in the last few years that mean benefits in kind are now treated as taxable income? I know I recently began paying tax on employer provid
by Jochim 3y ago
Weren't there changes in the last few years that mean benefits in kind are now treated as taxable income?
I know I recently began paying tax on employer provided health insurance for example.
- rapidaneurism 3y agoYes but an EV car is treated as a 2% benefit in kind. E.g. (simplifying) your employer can buy you a 40k Tesla and you get taxed as if they gave you 2% of that as salary. In the 40% braket that is £800 benefit in kind so you pay 320 extra tax. Edit: I think it is better explained here: https://electriccarguide.co.uk/what-are-the-benefit-in-kind-bik-rules-for-electric-vehicles/ https://electriccarguide.co.uk/what-are-the-benefit-in-kind-...