Benefit in kind tax increase effecting company cars

Breakfast Business with Joe Lynam

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Benefit in kind tax increase effecting company cars

Benefit in kind is a tax on perks and is usually applied to the new value of a free company car. As of this week though, the amount of benefit in kind payable by employees for owning a company car has jumped to just shy of €300 a month for an average car. It’s led to many cBenefit in kind is a tax on perks and is usually applied on the new value of a free company car. As of this week though, the amount of benefit in kind payable by employees for owning a company car has jumped to just shy of €300 a month for an average car. It’s led to many employees offering to hand back their company cars, usually leased, to avoid the tax. David Kavanagh is the Vice president of the Vehicle Leasing association of Ireland, which are usually leased, to avoid the tax. David Kavanagh is the Vice president of the Vehicle Leasing Association of Ireland

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Benefit in kind tax increase effecting company cars