The Class 1A rate on benefits in kind (BiKs) when reported on a P11D(b), remains at a rate of 13.8%.

The Class 1A rate on termination and sporting testimonial payments over £30,000 remains at a rate of 13.8%.

The Class 1B rate on BiKs when reported on a PAYE Settlement agreement (PSA) remains at a rate of 13.8%.

The taxable benefit for use of a company van remains at £3,960 per year. The taxable cost of the benefit is divided by the number of employees that use the van.

The car fuel benefit charge remains at £27,800. This is multiplied by the ‘appropriate percentage’, which is based on the fuel type of the car, and CO2 emissions. Further information can be found on HMRC’s website.

The van fuel benefit charge remains at £757.

The advisory fuel rates, used for employees reimbursing personal mileage where fuel is provided by the employer, or reimbursing employees for business travel in their company cars, are updated every three months. Please refer to HMRC’s guidance for the updated mileage rates.

The actual official rate of interest to be used when calculating a beneficial loan using the normal averaging calculation method, or employer-provided accommodation, remains at 2.25%.