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BIK on old/classic cars

MuffinsDa · 2011-11-02 15:43:36

Quick question ref BIK on old cars: If my company buys a pre-1981 car and provides me with it as a company car, what would be the OMV for it with regards to BIK calculation? Would it be the original (Punt) price? How is it converted, and do they take into account inflation etc? For example if I buy a 1979 Merc for €5000,…

02-11-2011 3:43pm

#1

MuffinsDa

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Quick question ref BIK on old cars:

If my company buys a pre-1981 car and provides me with it as a company car, what would be the OMV for it with regards to BIK calculation? Would it be the original (Punt) price? How is it converted, and do they take into account inflation etc?

For example if I buy a 1979 Merc for €5000, what would I roughly be liable for in terms of BIK?

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#2 03-11-2011 10:33am

nompere

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UK Revenue went to the trouble of legislating about this. It hasn't happened here (yet?), so find out the OMV, and convert punts to euro by dividing the punt figure by 0.787564. Ir£5,000 would be €6,389.

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