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
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Part Year BIK, Using the Calculation From Revenue.IE Site

  • 02-03-2018 11:30am
    #1
    vrs_tom
    Registered Users, Registered Users 2 Posts: 6 ✭


    Hi there,

    Can somebody assist me with figuring out how the part year BIK calculation works on the Revenue site please ?

    https://www.revenue.ie/en/employing-people/benefit-in-kind-for-employers/private-use-of-company-cars/company-car-for-part-of-the-year.aspx

    Specifically this portion:
    Company car for part of the year
    Changes to the amount of tax due will be necessary if:

    Your employee receives a car during the year.
    Your employee stops using the car before the end of the year.
    Your employee changes their company car.
    A car is not available for private use during the year. This might happen if your employee is working abroad, and his or her family cannot use the car.
    The business kilometres driven and the cash equivalent used should be adjusted by using the following calculation:

    the number of days in the tax year the car is available for private use, multiplied by 100, and divided by 365.

    I can't get my head around it. If somebody could use a simplified example, I would be greatly appreciative, for example:

    OMV of Car: €30000
    Business KM Driven: 45000Km
    Private KM Driven: 8000Km

    Thanks


Advertisement