BIK Company car

H

Holdsteady

Registered User
Messages
7
Hi,
I'm looking for some advice on how to calculate BIK applicable to a company car.
I've accepted a new job recently and have the option of a company car or a £8750 car allowance.
I will get paid for business mileage but not personal if that makes any difference.
Car value circa 32K new retail price.

Thanks.
 
What per mile is being paid?
What business mileage are you doing?
What is your tax rate?
Do you own a car that is suitable and you are willing to use for business travelling?
CO2 of car to be supplied?

You used a pound symbol.Do you live in the UK?
 
vandriver said:
What per mile is being paid?
What business mileage are you doing?
What is your tax rate?
Do you own a car that is suitable and you are willing to use for business travelling?
CO2 of car to be supplied?

You used a pound symbol.Do you live in the UK?
Click to expand...

No its Euro, just no symbol on my keyboard!
Salary of new role will be 64K
No i do not own a suitable car, i am coming from a job that supplied a company van.
C02 band is A4.
Business mileage is a bit hard to estimate but its likely to be 30+ K a year.
 
Joe_90 said:
The BIK would be €32,000 x 24% = €7,680 per annum.
Click to expand...

When starting how does one calculate the & BIK, ie 30 or 24 % etc when there is no mileage records yet? Is it an anticipated mileage figure payroll uses?
 
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