BIK on car

F

ft5j60j

Registered User
Messages
72
Ok Thinking of getting a new company car worth 45k, I do over 50k miles a year how much would this cost me on BIK
 
Then your taxable BIK will be 6% of the value of the car when new, which is €2,700. This will be subject to PAYE and PRSI so, presuming you are on the higher rate of tax, will give you additional tax for the year of €1,269 or just over €105 each month.
 
how do you mean?
Click to expand...

Gross 2,700
Tax ..1,269 p a 105 pm
Net ..1,410


I currnet have a car worth 32k and it show up at 131yoyo on my paylsip
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The 131 is the gross figure before tax 54 after tax assuming 41% tax and full rate PRSI
Did you pay anything towards the cost of the car?
Are you doing over 30K miles?
Ask your employer /wages person /accountant how BIK is calculated
 
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