- Details
- Created: Thursday, 23 June 2022 09:08
Employees Provided With Electric Cars Should Check They Are Taxed Correctly.
Issues with HMRC’s online forms P11D and P46(car) mean that HMRC does not always correctly calculate electric car BIK.
Unfortunately, there are stories of issues when an electric car is reported using HMRC’s online returns. HMRC’s calculators default to assuming that the car is a high CO2 emitting petrol car. This calculates the annual BiK at 37% rather than the 1% rate that applies to electric cars for the 2021/22 tax year.
The only way to get the BiK charge corrected is for employers, or their agents or employees, to call HMRC.