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BIK on Company Vehicle question

  • 03-01-2006 10:41pm
    #1
    rymus
    Registered Users, Registered Users 2 Posts: 8,819 ✭✭✭


    Apologies for posting all over the place; I stuck this in motors but guessed it might be relevant here too. It's a quickie on BIK for a company van. Nothing too technical, I just don't get it! :)

    The original post is here - http://www.boards.ie/vbulletin/showthread.php?t=2054869737

    Cheers.


Comments

  • #2
    BrianD
    Closed Accounts Posts: 7,221 ✭✭✭BrianD


    AFAIK vans are not exempt from BIK but the tax is at a lower level. The benefit is the provision of a vehicle for your personal use.

    Prior to 2000 with a previous employer, I had a number of Isuzu troopers provided by my employer. Two were commercials and the last one was a passenger version. I had to pay BIK on the commercials. Fortunately it wasn't adjusted when I got the passenger version so I didn't get a big increase in BIK.

    Officially to avoid BIK on any vehicle it has to garaged at your place of work outside of working hours. Now you can claim if stopped that you are a 24 hour operator and you're on the way to a job.

    One way to reduce BIK is by paying milage for private use. My boss was reasonable and classed private usage as the weekend. I'd make up a figure and multiply it by the civil service rate and deduct from my expenses.


  • #3
    rymus
    Registered Users, Registered Users 2 Posts: 8,819 ✭✭✭rymus


    in that case.. the BIK on the commercial vehicle is probably factored into my salary... You've answered all I want to know, cheers Brian.


  • #4
    BrianD
    Closed Accounts Posts: 7,221 ✭✭✭BrianD


    As a PAYE employee it would have been as a tax deduction on your tax schedule. The employer would use this to calculate your net salary so you don't have to declare it separately.


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