BIK on company van ?

The calculation of BIK on a company van, is simply 5% of the original market value of the van. However, no reduction is allowed for annual business travel like where there is for cars

However, there is a revenue concession available where the following conditions are met

1) The van is supplied by the employer to the employee for the purposes of the employees work

2) The employee is required to bring van home every evening with him or her

3) No other private use is allowed by the employer apart from travelling to and from home

4) The employee must spend more than 80% of his or her time away from the employer premises. If any doubt on this, a log book should be maintained in case of revenue audit query

Remember all conditions must apply

Any queries call me on 091 763817 or email me on oliver@taxreturnhelp.ie