G
George1
Guest
Hi,
I would be grateful if someone could give me some guidance to BIK on a preferential Mortgage.
I switched to a preferential Mortgage about 11 months ago.
The term of the loan is 37 years and the loan is 165K - fixed at 3% for the term of the loan, unless I decide to leave my current employer.
Is it up to me to declare BIK to the Revenue or is it up to my employer to do this? The last thing I want to happen is, get landed with a bill for outstanding BIK. Looking at my Salary slips, I cannot see BIK being declared!!!
Another question, how do I calculate BIK on the above?
Any help anyone can give would be appreciated.
George1
I would be grateful if someone could give me some guidance to BIK on a preferential Mortgage.
I switched to a preferential Mortgage about 11 months ago.
The term of the loan is 37 years and the loan is 165K - fixed at 3% for the term of the loan, unless I decide to leave my current employer.
Is it up to me to declare BIK to the Revenue or is it up to my employer to do this? The last thing I want to happen is, get landed with a bill for outstanding BIK. Looking at my Salary slips, I cannot see BIK being declared!!!
Another question, how do I calculate BIK on the above?
Any help anyone can give would be appreciated.
George1