**Set up now for 2023 and we will extend your trial period to February, register here**
**Set up now for 2023 and we will extend your trial period to February, register here**
powered by bulletin
Table of Contents

Company Vehicle Benefit in Kind

You are here:

Company Vehicle Benefit in Kind attracts tax as it is a personal use of a company asset.
If you already know the amount that the Vehicle Benefit in Kind will be, you can add this to
the employee’s template.

Edit Payslip Template

Go to the menu bar and choose Employees > Current Employee > click on Edit

Current Employees

Choose the Employments tab and choose Edit payslip template

Employments-Tab

Go to Benefits on the left of the screen and hit the +plus icon and add the amount.
Click on Update.

Payslip-Template

If you have already opened the pay run before entering the BIK; you will need to reload the template for that individual.

You can do this by going to the Pay Run > Open the Payslip and click on Reload template as
per below.

Edit-Payslip

Create Company Vehicle Profile

You must create the Company Vehicle profile first. Afterward, you can calculate the amount of BIK due to an employee.
Go to the menu bar and choose Settings > Vehicles > New

Company-Vehicles

Input the details of the vehicle and allocate the primary user – original market value is the
recommended price/cost of the car at the year of purchase by the company. Click on Submit.

New-Vehicle

Define the Employee’s Extent of Benefit

Choose the vehicle and click on the person icon.

Company-Vehicle-Allocation

Click on New.

Vehicle-Cash-Equivalent-Benefits

The start date is the day the vehicle first became available for the employee to use.
If for any reason the vehicle was not available for the employee for the full year; enter the number of days the vehicle was available to the employee in the year.
Your amount of benefit in kind due will be calculated according to the details entered and will appear on the payslip automatically.

New-Vehicle-Tax-Year-Details

If you have already opened the pay run before entering the BIK; you will need to reload the template for that individual.

You can do this by going to the Pay Run > Open the Payslip and clicking on Reload template