Car: Tesla Model 3 RWD P11D value: £39,935CO2 emissions: 0g/kmCompany car tax band: 3%Taxable benefit-in-kind: £1,198.05 (3% of the P11D list price)Driver BIK tax bill: £239.61 per annum (lower ...

The benefit-in-kind is reported on the employee’s P11D form, and the tax liability will be calculated accordingly. For the company, offering an employee a loan may also trigger some tax obligations.

"The BIK rates are set to rise by 1% in each tax bracket for every type of vehicle, with higher BIK rates for higher-emission vehicles. Electric vehicles currently have a low BIK rate of 2%, but from ...

Benefit-in-kind (or BIK ... To calculate the company car - or BIK - tax, multiply the P11D value by the BIK percentage banding, then multiply that figure by your tax band - i.e. 20% or 40%.

Employers must report expenses and benefits-in-kind, such as company cars and private medical insurance, to HMRC every year in a P11D form.

"They will need to know in advance about expenses and benefits-in-kind going through ... These will remain on the P11D form at the end of the tax year. The mandatory payrolling of these will ...