BIK exemption on Vans ?

BIK Exemption for VAN’s ?

An employee or director will not pay tax on the benefit of an company provided van where all of the following applies:

1. you provide your employee with the van for work purposes and they have to bring it home afterwards
2. your employee is not allowed to use the van for private travel apart from travelling to and from work
3. your employee spends at least 80% of their working day away from your work premises.

If any of the above conditions, then BIK is applied at rate of 8% on the value of the van when it was first sold

So important to ensure that the required documentation is in place in case of revenue query such as company policies, regular tachnograph readings etc

Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie