The Corp didn't operate that system in '71-72. We could have late cars but they were shared and no records kept of who went where sharing with whom. It would have been a bit of a task to divvi up the tax liability between the one that got out at Hanger Lane, the next at Greenford, the next at Litton Avenue, and Meself in South Harrow.
The IR did used to negotiate with individual employers and individual trade unions then. Maybe more so than nowadays when it's "all on the computer".
DG
Glad to hear it, that wasn't so when I took out my mortgage 1972. Or when I first started paying company car tax 1975 ?
DG
IIRC, it came in later than that - around '80. It didn't effect me much as I usually drove to work and in any case rarely finished so late I couldn't use public transport. But my colleagues who worked at Thames' Euston studios where the transmission and current affairs areas were often did - and working in Central London invariably used public transport, often with a season ticket. So having paid once for a ticket and being taxed again on being provided with a car home when the said public transport had finished seemed particularly unfair.
And as regards being taxed on a shared car - yes we were. I worked at Euston on linking the Olympics for ITV/Ch4 round about '90, and we had a shift change at 0400. I can't remeber how the actual figure was arrived at though, as wages dept did it. It was certainly less than having a car to yourself.
I'm not so sure it's wrong. What's happening is the employer ups the salary a bit. He can do that if he wants to. Makes the PAYE calculation as normal then takes payment for whatever benefit the employee has had (Hire car, hotel etc), that's OK as well.
Where it doesn't work (shameless plug) is where the IR try to tax the benefit at 10 -15x what it costs the employer such as trivial private use of an essential business car. ;-)
DG
Doesn't the BIK reduce your tax code?
Conventionally yes, but Dave Plowman was talking about the situation Ca 20 ? years ago.
Nevertheless, just last week my son was awarded £500 of "incentive vouchers" by his employer (Quite an impressive looking wad!) he won't pay tax on them, his employer merely grosses up their value, adds it to his salary and calculates his paye as normal and then makes a deduction for them. He doesn't file a P11d (or even a tax return) and there's no BIK.
DG
Not quite - I'd say more like 10 or so. And I'm not sure whether it has changed in broadcasting for the few staff remaining.
That means the incentive vouchers are taxable. I did the payroll for a client recently and people were given bonuses of up to 500 pounds. I grossed up their wages to allow for the 500 pounds net. The incentive vouchers were just treated as cash. The incentive vouchers are taxable. Hotel stays on business are not.
BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.