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BIK RATES FOR 2023!! CAREFUL!

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  • Registered Users Posts: 195 ✭✭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.



  • Registered Users Posts: 10,264 ✭✭✭✭Marcusm


    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.



  • Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators Posts: 7,676 Mod ✭✭✭✭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.



  • Registered Users Posts: 100 ✭✭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.



  • Registered Users Posts: 100 ✭✭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 👍🏻



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  • Registered Users Posts: 1,817 ✭✭✭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.



  • Registered Users Posts: 368 ✭✭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



  • Registered Users Posts: 368 ✭✭Romero




  • Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators Posts: 7,676 Mod ✭✭✭✭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.



  • Registered Users Posts: 2,777 ✭✭✭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.

    FYI, if you move to a 'smart' meter electricity plan, you CAN'T move back to a non-smart plan.

    You don't have to take a 'smart' meter if you don't want one, opt-out is available.

    Buy drinks in 3L or bigger plastic bottles or glass bottles to avoid the DRS fee.



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  • Registered Users Posts: 620 ✭✭✭poppers


    Has the €10000 reduction in OMV not been approved yet, im still on being charged on old valuation. Payroll says they have not received anything from revenue to say it been adopted as of yet.



  • Registered Users Posts: 1,817 ✭✭✭hold my beer


    My software updated last week with lots of notifications about the change. I had to manually adjust a lot of the calcs for employees for April.



  • Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators Posts: 7,676 Mod ✭✭✭✭delly


    Just bumping this thread for anybody who missed it, but the €10k reduction on OMV will apply again for 2024, which is great to see.



  • Registered Users Posts: 12,681 ✭✭✭✭R.O.R


    And they've frozen the EV 0% rate as well, so the first €35,000 is still 0% - should have been €20,000 next year. Entry to the lowest rate on mileage also stay's at 48,000km rather than the 52,000km it should have been.

    Would have been nice to see it come down across the board, compared to what it currently is, but pretty happy with it staying as it is at the moment.



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