Company Car - BIK

J

jokerini

Registered User
Messages
91
A company buys a second-hand car for €3,000 for the director. Is the director's benefit-in-kind simply calculated as a percentage of the €3,000?
 
In this case,could the director not buy their own car and claim business mileage at civil service rates.
 
Thanks for the replies. So if the car cost €20,000 10 years ago, the director would be hit with a maximum BIK of €6,000 (30% of €20,000) on a car that's worth €3,000. It seems crazy. No wonder it makes more sense for the director to own the car than the company.
 
Could be worse,you could buy a 10 year old S500 for buttons and be hit with a 15 grand BIK bill!
 
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