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BIK and Tax

v4l3ntin3
Posts: 5 Forumite

I have just received a simple tax return with unpaid tax for previous year:(
I have a company car and fuel card BIK is around 10k.
My personal tax account shows only my basic salary. Should I add the BIK there and increase the estimated earnings by 10k.
I thought as HMRC are real time now and PAYE would be adjusted monthly so the right tax is paid. The BIK is showing correctly on my personal tax account and my tax code is currently reduced to practically 0 for 24/25.
thanks in advance
I have a company car and fuel card BIK is around 10k.
My personal tax account shows only my basic salary. Should I add the BIK there and increase the estimated earnings by 10k.
I thought as HMRC are real time now and PAYE would be adjusted monthly so the right tax is paid. The BIK is showing correctly on my personal tax account and my tax code is currently reduced to practically 0 for 24/25.
thanks in advance
0
Comments
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Do you mean a Simple Assessment calculation or a tax return to complete?
You only need to include it as part of your estimated earnings if your employer is payrolling the benefits. If they are issuing you with a P11D each year, because they aren't patrolled, then it is dealt with via a tax code deduction.0
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