BIK Company car

[Holdsteady]

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.

 

[vandriver]

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?

 

[Holdsteady]

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?

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.

 

[vandriver]

Per mile rate?

 

[Holdsteady]

Per mile rate?

Not sure yet, ive asked for further details from HR but waiting to here back.

 

[vandriver]

Can't give you an answer then!

 

[Holdsteady]

Ok il post once i get an answer.
thanks.

 

[Joe_90]

The BIK would be €32,000 x 24% = €7,680 per annum.

 

[Holdsteady]

The BIK would be €32,000 x 24% = €7,680 per annum.

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?