I find the revenue page on BIK somewhat confusing.
I would like to buy an EV through my limited company.
The car would be for private and not business use.
Can I confirm the calculation below with someone who knows?
Purchase price of car (100% electric vehicle = OMV - €57,780.
€57,780 paid by company, pre-tax income.
Taxable benefit = OMV - €10,000 - €35,000 = €12,780.
BIK tax due = 22.5% of €12,780 = €2,875.50.
Am I misunderstanding this or is this correct?
I would like to buy an EV through my limited company.
The car would be for private and not business use.
Can I confirm the calculation below with someone who knows?
Purchase price of car (100% electric vehicle = OMV - €57,780.
€57,780 paid by company, pre-tax income.
Taxable benefit = OMV - €10,000 - €35,000 = €12,780.
BIK tax due = 22.5% of €12,780 = €2,875.50.
Am I misunderstanding this or is this correct?