No BIK on Commercial Vehicle?

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lexus

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Just wondering if there is any truth to this? have set up a health and safety consultancy company, running my own car and charging expenses, however someone told me if the Company buys me a Commercial Vehicle I dont have to pay any BIK. IS this true?

thanks
 
lexus said:
Just wondering if there is any truth to this? have set up a health and safety consultancy company, running my own car and charging expenses, however someone told me if the Company buys me a Commercial Vehicle I dont have to pay any BIK. IS this true?
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There is no BIK on commercial vehicles.Also, If you have a company vehicle(that is not commercial) and more than one person is insured to drive it then BIK is not applied as there is more than one user.
 
BIK on "vans" that also have some private usage is calculated at 5% of the original market value of the vehicle.

Vans that are kept overnight at the emplyees home but where private use is strictly prohibited are exempt from BIK.

Vans in a vanpool and kept at the employers address are exempt.

So, Cases involving private usage of a van is BIK taxable at 5%.
 
thanks a million for the replies, i jsut have 1 other question Con if thats okay? If i do get a company vehicle and insure more than one person on it, could that other person be the other director of the company and be meerly a named driver?

Also I work a full time job whilst setting up the company, can I (with the premission of my own company) drive this car for my other employer or would that negate insurance cover?

thanks again for the advise
 
Sorry about the delay lexus, I was gone to Old Trafford to watch a match:)

I am not sure about the situation with the director, sorry. I drive a commercial vehicle for work and I don't incur BIK and my employer is not one to evade tax for my benefit. I can't answer your insurance query either but I'm sure your insurer could answer that for you
 
Con said:
There is no BIK on commercial vehicles.Also, If you have a company vehicle(that is not commercial) and more than one person is insured to drive it then BIK is not applied as there is more than one user.
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Is this really true?
 
I was forced to sit through the highlights on saturday night ;)

Thanks a million for that, thinking as Managing Director it may still be financially advantagous to retain my own car and charge milage on it....

Thanks for the advise though, its really appreciated. If you ever need a Safety Statement let me know!
 
I am due to change my company car this month. I was considering of going commercial as Mrs Paul24 already has a family car.
The guy in the garage said that they were told to advise people that the Revenue were going to target commercial jeeps in the near future. He said this was more than the 5% BIK for personal use. People who have company vans are still OK but the Jeeps were going to be looked at.

The revenue site has nothing on it, so is this just a bit of gossip that someone has picked up wrong or has anybody heard anything similar.

Thanks

Paul24
 
My company are offering to replace the estate car I use with a double cab 'pick up' vehicle. A little bit of overkill for my needs to be honest but it will do the job and the Financial Controller sees savings on VAT, including fuel costs.
Im on a car allowance deal at the moment, not much info on the revenue site, does anyone have personal experience of the BIK tax position on this?

Thanks
 
wheeler said:
Is this really true?
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Hi When you say You dont have to pay BIK when others are insured on the car is this true? I have a co car and pay BIK. Can I be exempt if other people I work with are insured to drive it?
 
Only if the car is part of a car pool and the other person actually has access to drive it. See [broken link removed].
 
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