Company car

D.lockey

Hello
Apologies if this is a repeat thread ,
I currently have a company car which I pay BIK and tax on obviously, which I think is around 8k a year , but I’m strongly considering a pick up classed as a commercial vehicle which I can see I believe is arround 3k a year in taxes etc ,
Just wondering if any one else has done this and are the savings really as obvious as they look .

ginashamz

£8,000 a year for BIK? What car do you drive, a supercharged V8?

Money_Grabber13579

It certainly wouldn’t be difficult to have a BIK of 8k, particularly if there’s a fuel benefit charge as well. I suspect that it is not a tax liability of 8k though.

DoaM

Remember, the BIK is calculated based on the list price of the vehicle and its "emissions class". Assume:

List = £25k
Emissions = 23%
BIK = £5,750

Tax = £2,300 (assuming 40%)

Increase the list price and/or emissions class and it would be quite easy to achieve £8k per year in BIK.

Inner_Zone

ginashamz wrote: »

£8,000 a year for BIK? What car do you drive, a supercharged V8?

No probably an RX8!

LandyAndy

https://www.autoexpress.co.uk/vans/95748/double-cab-pick-up-truck-tax-benefits-explained

facade

Remember that pick-ups are subject to lower speed limits than cars
And they are tricky to insure for private use.

gingerdad

my skoda without fuel benefit is 8k

i've looked at the same but didnt find the saving enough

gingerdad

Cash Equivalent Value
£7,934

AdrianC

gingerdad wrote: »

Cash Equivalent Value
£7,934

That means you're paying tax on £8k, not that you're paying £8k in tax.

kev25v6

Try a Mitsubishi Outlander Phev, really low BIK and 25 miles range on electric