Benefit in Kind Tax (explained)
Are you feeling bewildered about the ins and outs of Benefit in Kind (BiK)? Is it costing you money? Are the risks of non-compliance with HM Revenue and Customs (HMRC) keeping you awake at night? Complexities around tax can be enough to confuse even the most sharp-witted employers and employees. But the good news is, BiK does not need to be complicated… We have put together some quick reference points to give a general guideline about taxable benefits on cars, vans and fuel.
