Company Cars

Posted by Old Greying Acc... PM | on Tue, 06/07/2010 - 17:52 389 4 comments | report

Aside form the immorality of having a BIK of 21,270 on a car that only cost the company 19,000, what would the employee need to pay to the company to extinguish this (in the absence of detailed mileage logs)?

A, The costs incurred by the company, or

B, The value of the BIK?

The vehicle was bought cash initially in 2008/09, but has been financed to help cash flow during 2009/10.

Comments

There are 4 comments. Login or register to view them.

unless

pembo | Wed, 07/07/2010 - 13:29

Revenue guidance on payments for private use

valentino rossi | Wed, 07/07/2010 - 13:50

Solution?

valentino rossi | Wed, 07/07/2010 - 13:53

Typical case

Old Greying Accountant | Thu, 08/07/2010 - 09:54