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Company car BIK

  • 22-10-2015 7:25am
    #1
    marathont
    Registered Users, Registered Users 2 Posts: 326 ✭✭


    Hi can someone clarify the BIK calculation for a company car.

    I have been looking here: http://www.revenue.ie/en/tax/it/leaflets/benefit-in-kind/private-use-cars.html

    As I understand it, the cash equivalent is calculated on the original market value of the car ie when the car was new.

    But it also says a discount can be applied, if the car was purchased secondhand.

    So this mean if the car was purchased with a 50% discount of the OMV (because the car was secondhand) the cash equivalent is reduced by 50%


Comments

  • #2
    adrianw
    Registered Users, Registered Users 2 Posts: 236 ✭✭adrianw


    For BIK purposes?
    It would still the original market value. A small discount may be available from the list price but it would not be significant.


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