BIK on Company Car

[gweebarra]

Hi,

Could someone briefly explain the BIK calculations to me.

My wife has a company car, worth roughly Eur 30k and she does less than 10,000 miles per annum.

What will her monthly BIK tax be?

It seems to be working out at roughly Eur 400 per month.

Would this be right?

 

[frankage]

.

Is she availing of the low business milage thing? (70% jobby)

The figures you give mean that the cash equivalent is €7200 (24% of Original Market Value) per year, or €600/ calendar month. This figure is added to her salary and taxed.

(I'd personally do away with the company car)

 

[rainyday]

Is any of the 10k p.a. milage business travel (excluding her commute to/from work)?