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BIK exemption on electric vehicles

  • 11-11-2020 11:27am
    #1
    Registered Users Posts: 497 ✭✭ Leprechaun77


    I understand this may be a ‘taxation’ query, but I believe it is probably more suited to the EV forum, and more likely to get a response here.

    I am contemplating switching to an electric vehicle for my next company car and understand the various BIK exemptions available. What I am unclear on however is the duration of these exemptions.

    If I take say a three year lease, will the exemption be valid for the period of the lease, on the basis that the vehicle was ‘first made available’ in the 2021 calendar year, or could I be liable to pay BIK if the government did not extend this on an ongoing basis? The likelihood is that I will have to supplement the lease cost with my employer, so I don’t want to have BIK come back in to play later on in the lease.

    Any advice or experience from the knowledgeable members here?


Comments

  • Registered Users Posts: 11,195 ✭✭✭✭ KCross


    Its been asked a few times on here. There is a thread on it. Its not entirely clear what the situation is until we see the finance bill from the budget just gone.

    It seems that the exemption has an end date and BIK would be liable after that date regardless of when you bought the car but we need to see the finance bill to see if they extended that date or not. I believe a new BIK scheme is to come into operation in 2023.

    Go to the end of this thread for some opinions on it..
    https://www.boards.ie/vbulletin/showthread.php?t=2057804824


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