First appeared in the Irish Examiner, 18 March 2004.
Reproduced with kind permission of the Irish Examiner.
Dublin: Many businesses are considering a change in their company car policy, according to a survey by PricewaterhouseCoopers.
Thirty-two per cent of respondents are currently reviewing their car policy while 25% indicate they are changing their car policy in 2004.
Mark Carter, a partner at PwC said: "The indications from this survey are that many businesses are considering a change to their car policy in 2004. Some employers indicate this is due to the new Benefit in Kind (BIK) tax rules introduced in January 2004.
"The new regime can add more than 3% of the original car value to the annual costs of supplying car benefits," he said.
Copyright © 2004 Irish Examiner
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