Is there a BIK or Tax Implication?

Is there a BIK or Tax Implication?

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My client organises a local marathon and this is done completly voluntary. One of the main sponsors of the marathon has given him a car to use for the next year. The car has been sprayed with advertising to promote the marathon.

My client also has a limited company which is completely unrelated. No monies are received by the company for organising the race as this is done by him personally (i.e. not through the comany). The company may print some t-shirts for some of the runners but that's it from what I've gathered.

Is there any sort of BIK implications here? I'm just thinking along the lines of third party benefits? Is there a tax implication at all?

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By ccassociates
14th Feb 2012 16:04

Value

If your client is not a Director of the Co which is providing the vehicle and the total value of the benefit is less than £8500 no benefit in kind arises. on the face of it there doesn't appear to be a third party connection here

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