BIK on company cars - what's ahead?

[slane85]

I'm due to change my company car early next year and am thinking about options including an electric car and maybe opting out altogether as I think there'll be less face to face meetings in future.

From what I can see the BIK exemption for ev's expires at the end of 2022, however there was talk of the whole system being re-vamped and based on CO2 emissions like the UK.

Does anyone have any detail or information on this or where can I find it?

 

[Zenith63]

Part 05-04-09 of the tax manual has a nice table in it showing the various BIK rates that are coming in at the end of 2022, unfortunately it’s not available at the moment as it’s being updated! I’d guess you can find the same table in the last budget, or you can wait for the tax manual to reappear https://www.revenue.ie/en/tax-profe...-gains-tax-corporation-tax/part-05/index.aspx.

Zero emission cars like EVs will have a BIK rate of 9%-22.5% depending on the mileage you do.

There have been various recommendations that the 0% BIK on electric vehicles should be extended before 2023. I’d be very surprised if it isn’t extended, it absolutely works but we are a long way off hitting our targets for electrifying transport.

Even if it is my extended you get a few years of 0% BIK and a fairly low rate after that, it’s a great deal!

Edit: page 6 of this document has the new CO2 based BIK table for 2023+: https://assets.kpmg/content/dam/kpmg/ie/pdf/2019/10/ie-finance-bill-2019-taxing-times.pdf

 

[lledlledlled]

It's crazy if the EV BIK exemption isn't extended. So many EV drivers (including myself) will simply hand back the keys of our EVs to our companies the day that happens, and be back in our commercial DIESEL cars, resulting in an influx of dirty diesels after all of the progress made on the EV front.
I'll miss my EV, but I won't be paying BIK for the privilege.

 

[bish123]

It's crazy if the EV BIK exemption isn't extended. So many EV drivers (including myself) will simply hand back the keys of our EVs to our companies the day that happens, and be back in our commercial DIESEL cars, resulting in an influx of dirty diesels after all of the progress made on the EV front.
I'll miss my EV, but I won't be paying BIK for the privilege.

Most likely it will be extended (Green Party). At worse BIK for electric cars will be at par diesel car. Why the question of paying BIK for privilege?