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company car question

cantdecide · 2007-01-09 20:20:26

if i took my company car away as part of a severance package, would i be liable for tax/ BIK?

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09-01-2007 9:20pm

#1

cantdecide

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if i took my company car away as part of a severance package, would i be liable for tax/ BIK?

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#2 09-01-2007 10:39pm
crosstownk

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Is the rest of the severance package subject to tax? If so then it's most likely the car will be too. You won't be liable for BIK tho, as the car will change ownership and the company will no longer be providing you with the benefit.

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#3 10-01-2007 12:46am
Seth Brundle

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double post - please reply here...
commercial vehicle

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