Company Vehicle Benefit in Kind

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

Choose the Employments tab and choose Edit payslip template

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

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.

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

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.

Define the Employee’s Extent of Benefit

Choose the vehicle and click on the person icon.

Click on New.

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.

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