Company car tax and costs

Jenni_D

Steve182 said:

Jenni_D said:

Petriix said:

... And of course, if you took an EV, the BIK would be just 2% of the P11D value. 

And a PHEV would (typically) be 8% (whereas a diesel would typically be nearer 31%). So a PHEV or EV at £50k is still cheaper in tax than a diesel car at £25k P11D value. A real-world comparison:

Insignia Grand Sport: P11D = £22,360; BIK = 31%; Annual BIK = £6,931.60 (This is my current car, which I've had now for 5 years)
Volvo V60 PHEV: P11D = £50,875; BIK = 8%; Annual BIK = £4,070 (This was going to be my new car before Volvo cancelled the order - my employer are still twiddling their fingers so are costing me almost £100 extra each month in tax vs what I should have been paying from June onwards) 🙄

Actual tax you pay is thus depending on your rate (20% / 40% / Hybrid rate), but you can see that you'll pay less tax with an EV or PHEV than a diesel car.

Can you not squeeze into a Tesla 3? I doubt it's much smaller than the Vauxhall and they have stacks and stacks of boot space, including underfloor compartment in the rear and the small front boot. Your BIK will then be peanuts....Long range is only about £4K more than the Volvo list price and I imagine has better residuals so maybe lower lease price.....
There is now a model Y which is more MP3 like and maybe worth a look.

Nice idea - but completely out of my hands ... I can't just pick and choose what I want; the company decides on the list of choices - and have been umming and arring for over 7 months now. 🙄

BiB ... is that a musical vehicle?