Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Benefit in Kind - OMSP

Options
  • 18-09-2013 1:12pm
    #1
    Swampyjocks
    Registered Users Posts: 23 ✭


    Hi,
    I am having great difficulty trying to determine the OMSP of a 2010 VW Touareg 3.0TDI commercial. I need this to calculate the BIK. Apparently these weren't sold from volkwagen and are an aftertouch.

    I have ran a check in the Revenue calculator and it is returning a figure of €25,000. This seems low but would mean a BIK of €1,250

    Can anyone confirm if the revenue cost can be used to calculate the BIK or is there another source to get a different OMSP?

    Thanks in advance.
    Tagged:


Comments

  • Options
    #2
    barneystinson
    Registered Users Posts: 4,683 ✭✭✭barneystinson


    Swampyjocks wrote: »
    Hi,
    I am having great difficulty trying to determine the OMSP of a 2010 VW Touareg 3.0TDI commercial. I need this to calculate the BIK. Apparently these weren't sold from volkwagen and are an aftertouch.

    I have ran a check in the Revenue calculator and it is returning a figure of €25,000. This seems low but would mean a BIK of €1,250

    Can anyone confirm if the revenue cost can be used to calculate the BIK or is there another source to get a different OMSP?

    Thanks in advance.

    That's the current OMSP you're working out.

    For BIK you have to use the original price of the vehicle. That'll be scaldy.


  • Options
    #3
    Swampyjocks
    Registered Users Posts: 23 ✭Swampyjocks


    barneystinson wrote: »
    That's the current OMSP you're working out.

    For BIK you have to use the original price of the vehicle. That'll be scaldy.

    I don't think that's right because the OMSP is the same if I enter the year as 2010 or 2013, which would indicate that the OMSP is the original market selling price and not current market?


  • Options
    #4
    The Dagda
    Closed Accounts Posts: 1,345 ✭✭✭The Dagda


    Swampyjocks wrote: »
    Hi,
    I am having great difficulty trying to determine the OMSP of a 2010 VW Touareg 3.0TDI commercial. I need this to calculate the BIK. Apparently these weren't sold from volkwagen and are an aftertouch.

    I have ran a check in the Revenue calculator and it is returning a figure of €25,000. This seems low but would mean a BIK of €1,250

    Can anyone confirm if the revenue cost can be used to calculate the BIK or is there another source to get a different OMSP?

    Thanks in advance.

    The BIK on a COMMERCIAL vehicle is calculated off 5% of the OMV (Original Market Value). OMSP (Open Market Selling Price) is not relevant to BIK.


  • Options
    #5
    Swampyjocks
    Registered Users Posts: 23 ✭Swampyjocks


    The Dagda wrote: »
    The BIK on a COMMERCIAL vehicle is calculated off 5% of the OMV (Original Market Value). OMSP (Open Market Selling Price) is not relevant to BIK.

    Any idea where I will find the OMV if the car wasn't actually sold by the main dealer, i.e. commercial was not a variant?

    Surely the Open Market Selling Price is related to the Original Market Value??


  • Options
    #6
    barneystinson
    Registered Users Posts: 4,683 ✭✭✭barneystinson


    Swampyjocks wrote: »
    Any idea where I will find the OMV if the car wasn't actually sold by the main dealer, i.e. commercial was not a variant??

    The VRT calculator doesn't seem to be calculating properly for that model (no way 25k is the correct OMV!) - I'd suggest you find out what the OMV is today for a new commercial model if it's available here now, and use that as your ballpark.

    If it's a commercial then you'll be using a 5% rate, so Revenue are hardly going to split hairs over a couple of grand one way or the other in the OMV figure.


  • Advertisement
Advertisement