Mazars payroll newsletter - Benefit in Kind on vehicles

June 2022 updates on the changes in legislation concerning taxation of company cars, vans and electric vehicles

Benefit in Kind (BIK): Changes from 2023

Section 6 of the Finance Act 2019 has introduced a new way to calculate the notional value of the use of a company car. Currently the notional amount is based on the original market value (OMV) and business mileage, however from 2023 it will be based on C02 emissions also.

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Mazars payroll newsletter June 2022
Mazars payroll newsletter June 2022