Of course, the best way to reduce Benefit-in-Kind (BIK - the tax applied to company cars) is to pick an electric car, with business users being liable for a charge based on just 2% of the car’s ...

Benefit-in-kind (or BIK) is a tax on employees who receive benefits or perks on top of their salary. If you have a company car for private use, you will have to pay a BIK contribution, or company ...

The benefit-in-kind tax ... in hybrid cars that attract the 2% rate. The 5% rate requires a car to have a range of more than 70 miles. The cars listed below all attract a 5% company car tax ...

That’s especially true when it comes to picking your next company car. This is a case where ... Then, factor in low benefit-in-kind (BIK) rates of 12% for the 2024/2025 tax year [1], a range ...

The best small ... a useful saving in Benefit-in-Kind (BiK), the calculation that dictates the amount of salary you’ll have ...