Understanding Benefits in Kind for Electric Company Cars
July 17, 2023
As more and more people and businesses switch to electric cars – not least due to the government ban on sales of new fuelled vehicles from 2030 – all parties must understand what this means for benefits in kind.Benefits in kind exist to levy a tax liability against benef...
Electric cars are becoming increasingly popular, with soaring fuel prices and the growing availability of charging stations - but they may also be advantageous from a cost perspective, particularly for businesses.
Hybrids and fully electric vehicles tend to be slightly more ...
TAGS
filing chargesincorporated businessescompanies housepayments on accountbasis period reformspartnership tax returnsself-employed taxpayerscommercial borrowingasset financeemployee pensionsauto-enrolmentworkplace pensionstaxnudge letterstudent workersbenefits in kindmarginal tax relieflandfill taxplastic packaging taxP11Dvat penaltiespension taxbusiness allowancesspring budgetHMRC changesdentistryir352023 tax yearenergy discountscompany directorsdirector's responsibilitiesbuy-to-let landlordsautumn budgetstatutory paymentssplsppsmpssptax reformsgovernment policycompany financeshiring staffpayeself-assessment tax returnsHMRC investigationstax investigationsbounce back loan schemeUK economyinterest ratesinflationgovernment grantscompany carmoney managementcash flow deficitcash flowworking capitalcompany debtbusiness debtsuper-deductioncapital allowancestax year-endspring statement2022/23 tax changesnational minimum wage2022 tax yeartax allowancesmarriage allowanceaccounting systemscloud-based accountingtax returnsfestive bonuseschristmas partiestax deductible expensesminimum wageemployment costsincome taxhealth and social care taxsocial care taxnational insurancecash flow planningreturn to workVAT returnsmtdmaking tax digitalremote work expensesbusiness owner expenseslimited company tax reliefjob retention schemefurloughFSBbusiness loansfinancial support for SMEsbusiness supportsmall businessesrecovery loansgovernment loansrecovery loan schemedividend incomedirectors salaries2021-22 tax yearnew tax rulescryptocurrency taxcrypto asset taxationbitcoin taxcryptocurrenciesremote staff managementpayroll servicesemployee engagementpayroll managementpayrolldeferred vatvat repaymentstime to payhmrcvat repayment schemevat deferralcorotax reliefbudget 2021corporation taxbudgetgrant claim deadlineslocal authority grantssupport grantsstamp dutystamp duty holidayCIS VAT returnsVAT reversal chargescis schemeVATHMRC fines31st January deadlinelate tax returnslate filing penalties2019/20 tax returnsself-assessmentsmall businessscam awarecoronavirus fraud alertfraud alertcoronavirus business grantsmoving during lockdownhouse pricesUK property valuesproperty marketnew capital gains tax rulesnew CGT rulescapital gains taxbusiness support grantsworking in winterbritish winter timeworkforce motivationwinter workingUK lockdowncoronavirus job retention schemelocal business grantsjob support schemefreelance workworking parentsrunning a small businesssmall business ownersstarting a new businesssole traderlimited companytrading typescompany trading structuresbusiness managementfinancial supportself careoutsourcingwork life balancetime managementtax relief for landlordsproperty ownershipbuy-to-let mortgagesproperty investmentremote workingself care in isolationWorking from home#covid-19#hmrcAccountantsColchesterCoronavirusGRANTCOVID-19Xero