McCreevy clarifies BIK conditions

Benefit-in-kind (BIK) taxation will not apply to company vans that are essentially used by an employee for company purposes even if the vehicle is brought home, Minister for Finance Charlie McCreevy has confirmed.

Minister McCreevy said he would not apply any BIK charge in relation to such vans, provided that the van was essentially for the purposes of the employee's work and that there was an employer requirement to bring the van home.