The range of tax-free transport benefits that employers can offer staff looks likely to diminish as HM Revenue & Customs consults on limiting benefits in kind (BiK). The Cycle to Work scheme will, however, be protected.
BiKs have become increasingly popular as they present income tax and national insurance contribution advantages to staff and employers. Says HMRC: “This growth represents an increasing cost to the Exchequer and creates an uneven playing field between employees...
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