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Rental Car for Job BIK

  • 23-04-2014 7:33pm
    #1
    RVN10
    Registered Users, Registered Users 2 Posts: 1,309 ✭✭✭


    Hey guys, apologises if this is the wrong forum but just wondering can anyone tell me if i have a rental car as a company car, am I required to pay BIK on this ? Our company was informed of this last week and are now trying to tell us we have to pay BIK. Any help is appreciated.


Comments

  • #2
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,690 Mod ✭✭✭✭Stheno


    Is it a rental from e.g. Hertz or a leased car from a leasing company?

    How long is the rental/lease for?


  • #3
    RVN10
    Registered Users, Registered Users 2 Posts: 1,309 ✭✭✭RVN10


    Yes its from Hertz i think and we been with this company 6 months which is ending soon?


  • #4
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,690 Mod ✭✭✭✭Stheno


    Hertz do leasing too.

    If the car is leased/rented, are you sharing it or is it for your exclusive use, what mileage do you do, how much time do you spend away from your "home" office as in your companys hq?


  • #5
    Doom
    Banned (with Prison Access) Posts: 2,381 ✭✭✭Doom


    If the company is fully paying for a car for you and you are allowed private use, it is then a benefit and therefore it is taxable, you can reduce the % if you have high business km's or if you pay towards its upkeep


  • #6
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,690 Mod ✭✭✭✭Stheno


    Doom wrote: »
    If the company is fully paying for a car for you and you are allowed private use, it is then a benefit and therefore it is taxable, you can reduce the % if you have high business km's or if you pay towards its upkeep

    That depends on if it's a pool car or a car assigned to an individual


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  • #7
    Doom
    Banned (with Prison Access) Posts: 2,381 ✭✭✭Doom


    I don't think the OP is pooling, as he said he the only one working with the company client.
    Edit, sorry OP did not say anything about car pooling.


  • #8
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,690 Mod ✭✭✭✭Stheno


    Doom wrote: »
    I don't think the OP is pooling, as he said he the only one working with the company client.

    He doesn't say that he is the only one using the car, read the posts again

    If it is for his/her sole use, then BIK is due regardless

    If it's not then no BIK is due


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