BIK on Company car vs allowance question

  • Thread starter getoffthepot
  • Start date
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getoffthepot

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Has anyone done an evaluation on when you are better off to take an allowance rather than a car with respect to the new situation on BIK where we will be subject to PRSI from January 1 2004
 
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Hi,

I did a few sums for my own benifit earlier this year & in my situation, there was no question about it - clearly, the car allowance was the way to go.

Unless your:

- doing lots of milage

- carrying an expensive car insurance premium, you'd rather have your employer pay each year

- getting a particularly nice company car & really want it, even at a personal financial cost to you


I'd go for the car allowance.

Mind you, a few sums should help you reach your own decision fairly quickly :)

Regards

G>
 
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