Revenue has updated Part 05-04-04 of its Tax and Duty Manual (“Benefit-in-Kind – Private Use of Company Vans”) to provide information on the BIK exemption for electric vans which commenced on 1 January 2018.

In particular, if an electric van is made available for an employee’s private use, a taxable benefit will not arise in respect of that private use and employers should note this benefit if deciding to provide electric vans to employees for use in the course of their employment duties.

This exemption applies to vans that derive their motive power solely from electricity and it applies to new and used company vans from 1 January 2018.

 

If you have any questions in relation to the above, or if you would like to discuss this topic further, please do not hesitate to contact a member of the Mazars employment tax team below:

Frank Greene

Tax Partner

 fgreene@mazars.ie

(01) 449 6415

Ken Killoran

Tax Director

 kkilloran@mazars.ie

(01) 449 4451

John Kelly

Tax Manager

john.kelly@mazars.ie

(01) 449 4495

       

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