Is car Benefit in Kind 50% each when joint users?
A couple who are both directors and work equally in a limited company business contract hire a car through the company.
Can the BIK be split 50:50 between them?
They both take remuneration up to the top of the NI Employers' Earnings Threshold, so both have some surplus personal allowances that could be offset against the BIK.
Both drive the car.
If it can be split 50:50, would it make any difference in a slightly different situation where both were directors but one did the majority of the work in the company (i.e. one full time and one part time)?
- Have I dropped a major clanger? 1,325 21
- VAT online filing exemptions 270 4
- Has anyone read the implications of the Lisbon treaty? 854 18
- NALS Accountants Report 102 1
- Do I need to report this to SOCA 3,469 35
- Legal title not in the company name 273 10
- Dividend dates 563 10
- simple one...capitalisation of legal fees on purchase of business 129 3
- Sole properietor 172 4
- transitioning payroll 240 8
- dividend proposals 107 2
- How to reclaim VAT that was missed off previous invoices? 234 2
- Deduction from Salary 300 8
- PPR exemption - can it be due on a bigger area than 0.5 hectares? 197 2
- Can I take action against my accountant for incompetence? 2,726 60
- Child Tax Credits - date of cessation of qualifying young person 93 2
- VAT on sales net of CIS suffered 437 10
- ACCA Cert/Dip in IFRS 160 2
- 12 Pay Problems 257 3
- Mutual trading organisation has chargeable gain 89 1
- Property exchange - 8-year legal delay following fall-out 624
- Cancelled 363
- SAGE Payroll Data for Import to MS Dynamics AX 342
- Cancelled 311
- Have you staged yet for auto enrolment? 283
- Probiz 271
- Free-standing washing machine - unfurnished lettings 231
- VAT on non-profit making clubs (ECJ VS West Dorset Golf Club) 230
- Phishing emails purporting to be from CIPFA? 202
- Is this UK incapacity benefit taxable in UK or Jersey? 176