Amongst other things, Budget 2024 made some changes to the Employee Investment Incentive, how BIK will be calculated and flagged the upcoming change to Corporation. DHKN’s tax experts summarise these below. Corporation Tax Rates The current 12.5% Corporation Tax Rate remains unchanged. In the Finance Bill new provisions will be introduced to implement the 15% […]
BUDGET 2024 – BUSINESS TAXES Read More »
Temporary measures to reduce impact on employees By Robert Lohan C.T.A., F.C.A. Last October’s budget indicated that the system of calculating BIK on company vehicles would encourage the use of electric and lower emission vehicles. However, the impact of these changes on employees’ take home pay on top of the cost of living crisis, has
FURTHER CHANGES TO COMPANY VEHICLE BIK RULES FOR 2023 Read More »
October and November are busy months for taxation changes and new government supports as the plans outlined in the budget take shape. We’ve issueD three bulletins in the past few weeks on: Changes to how Benefit in Kind is calculated on vehicles supplied to employees The Temporary Business Energy Support Scheme (TBESS) An extension to
NEW PUBLICATIONS: CATCH UP ON THE ENERGY SUPPORT SCHEME, TAX WAREHOUSING AND BIK Read More »
New BIK rules may be costly for staff By Robert Lohan, Tax Director at DHKN From 1 January 2023 Benefit in Kind (BIK) on company cars will be calculated by reference to their CO2 emissions. The BIK on company vans will also increase, from 5% to 8% on this date. For many employees this will
HOW WILL THE NEW VEHICLE BIK RULES IMPACT YOU AND YOUR STAFF? Read More »
