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BIK calculation

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cg12345
cg12345 Posts: 1 Newbie
in Cutting tax
Hi

I'm wondering if anyone can help RE a query I have with BIK calculation for a staff mortgage product.

I'm a 40% tax payer, mortgage amount would be £363,000 2 year fixed at 4.19% trying to work out additional tax implications if anyone can help would be greatly appreciated as the calculator that supports the application isn't working.

Thanks!

Comments

  • silvercar
    silvercar Posts: 49,456 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    Official hmrc rate for BIK is 2.25%, so I don't think you will pay any additional tax.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
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