BIK on Electric Company Cars

J

Jordan Belfort

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Electric Company Cars are BIK exempt up to a value of €50k. It's a long shot but could I put a an electric company car lease against my rental income ?

I am a paye taxpayer but also have rental income.
 
Sorry to hijack an old thread but can Hire Purchase payments against an Electric Company Car be claimed as a business expense ?
 
Yes, perhaps with some restrictions, against business expenses. Again it is unlikely you'll get a deduction against rental income.
 
My understanding is that HP repayments cannot be claimed as an expense against profits (Finance Lease repayments CAN be claimed)

A vehicle purchased under a HP agreement is treated as if it was purchased outright and capital allowances are claimed under the capital allowances regime

However in the case of an EV you can claim accelerated capital allowances in Year 1 of 100% of the cost of the car or €24,000, whichever is lower, provided the vehicle is new

 
RedOnion said:
However, only where the 'new' value of the car was less than 50k
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For new cars it’s 0% BIK on the first €50k value of the car, but nothing to stop the car costing more than €50k, you’ll just pay BIK on the extra bit. I’d assume it’s the same for secondhand no?
 
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