Advice needed on Benefit In Kind.

[Hammo16]

Hi all,
So I am due to get a company car next month and just have a couple of queries on the BIK I will be liable for.
1) Is BIK always deducted at source from your pay, or do you sometimes need to declare this yourself to Revenue?
2) How precise do you need to be in deciding the OMV of the vehicle?
3) How accurate do you need to be in terms of the business mileage you do when determining which tax band you will fall into, and how do you prove what personal mileage you do. I know the Revenue website gives some info but I find its not the clearest. It mentions a figure of 8,000km that is taken if you cannot prove you use it less than that for personal use - do you need to prove it is only 8000km or what is the requirement here?

Thanks.

 

[Joe_90]

The responsibility lies with your employer to operate the BIK.

The OMV of the car is effectively the list price of the car when it was new less a discount of up to 10%.

Revenue are not that interested in the private mileage except where there is no proper record of the business mileage. You should have a reasonable record of mileage. Doing in excess of 24k business Kms per annum is more than 500km per week so you should have some record of destinations to go with the daily subsistence claim.