BIK Mileage Change

  • Thread starter Thread starter kevboy33
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kevboy33

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Hi There,

I have a company car and have changed roles in February.

In my old role I had low mileage and was paying BIK at 30% but in my new role my mileage will be high and I will pay BIK at 12%. However, my January payslip was calculated at the higher rate and I am wondering how I go about organising a refund? Or indeed if I am entitiled to one?

Many thanks in advance!
 
The first thing to do is alert your payroll office- they should be able to make adjustments on an ongoing basis so that your overpayment will be compensated in the next period.

As I understand the rules you are supposed to maintain mileage records which are submitted to your payroll office. They use these records together with a ready reckoner to compute the aggregate BIK amount, so any required adjustments will be made on a period by period basis.

You can find more details (including the ready reckoner link) of how the scheme works here:

http://www.revenue.ie/en/tax/it/leaflets/benefit-in-kind/private-use-cars.html
 
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