Jane austin
Joined: 8/6/2024
-
Change to BIK reporting
As from next year, my company is changing how they report BIK from P11 to payrolling. Have a company car and fuel benefit for personal use. Currently my tax code starts with a K as my benefits exceed my personal allowance. And this figure changes several times a year too for some unknown reason (possible because my overtime varies?) As from next year, with the benefits being payrolled, what is likely to happen to my tax code? I know the benefits value of car and fuel will be added onto my salary for tax purposes so does that mean my tax code will return to the standard 1257L?