BIK RATES FOR 2023!! CAREFUL!

arsebiscuits82

Well got the first payslip during the week, BIK now €60/month more than last year. Lucky to be in a commercial I guess. Cost to me now €153/month.

Can we really complain though about it? Just looking on a few websites there.

Tiguan R Line - €49515 new

CO2 emissions - 140-150gm/km - Band D

Annual buisness mileage - 39,000 (800km/week-is this reasonable?).

BIK Rate - 20.25%

Monthly this will work out around €420 nett from your pay. The same vehicle on PCP is €579/month. An Ocatavia Estate with the same mileage comes in under €300/month . Plus you have no fuel, tax, insuarance or maintenance bills.

Do companies track business and private mileage, mine doesn't anyway.

Marcusm

https://www.boards.ie/discussion/comment/120187267#Comment_120187267

If they don’t track it then the assumption is that 8k of the total is private mileage. In the past, before fleet tracking etc would have made it easier, logs were supposed to be kept.

delly

I'd consider PHEV next time around, but with only being able to claim vat back on diesel, it'll be the company who will lose out for going green.

Horse1920

Hi delly-so i was the op on this thread and have went from a 2.0 diesel running about €240 a week to a kia sportage phev which qualifies in the 9% bracket running over €300 week in petrol.. Its a rental on trial but company is getting killed. Doubtful that we'll keep phevs to be honest.

Horse1920

Can anyone shine a light on whether if your car is branded it gets a 0% bik or also of your "on-call" you also qualify for 0% bik(commercial only) or ist this bs? I'm calling revenue on Tuesday on this but just wondering if anyone has any insight? Thanks 👍🏻

hold my beer

BIK is charged on personal use of a vehicle. You can paint it pink if you want, but if you use it for personal use, you must pay BIK on it. If you don't use it for personal use, then no BIK.

Romero

Hi Folks,

have company car and do low business Kilometres , I'd be in Catagory C for immersions, I've asked payroll to make sure I'm on the correct BIK rate.

They say I'm on the correct one which was the low Business mileage catagory, I thought they done away with that but it seems to be still up there on the website Employees with low business kilometres (revenue.ie) Hasn't been updated since 13th January 2022. So is this removed now? I'm not sure I will even do the 8000KM business , I'd prefer to be safe then sorry and claim back if i end up doing lots of business KM's

Thanks

Romero

Looks like they are back tracking on this for now...

https://www.rte.ie/news/business/2023/0307/1360853-temporary-changes-to-how-bik-is-charged-on-company-cars/

delly

That's great news and is rather surprising, as the small backlash didn't have much of a voice. Credit to whoever listened in the government.

In my case, my OMV is €25,000 and I'm in the 39k to 52k mileage bracket and cat C. Prior to the change I would be taxed on €3,000 per year. After the change that went up to €4,500. The new relief will now mean I am taxed on €2,700, so paying slightly less.

Buffman

Good news, but you'd be raging if you had already bought out your lease or handed back your company motor based on the original rates.