Our client (ltd co) leases an EV which is provided to the MD under a salary sacrifice arrangement. Company pays the lease company, director foregoes monthly salary equivalent to the lease payment.
In computing the BIK for P11d purposes, after taking the list price of the EV is there a reduction for amounts contributed by the director by way of salary sacrifice?
Or is it a straight 1% BIK on the list price?
Having a complete brain fart on this today!