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BIK on car through Limited company

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  • 04-11-2021 3:08pm
    #1
    nino1
    Registered Users Posts: 826 ✭✭✭


    I am employed full time wilth a salary of €90000 and have a side business that has around €35000 that can be taken as salary.

    I have not taken any salary out of the company so far and i am not on the payroll.

    I am also in need of a car and has hoping to pay it through the limited company as I am charged at the higher marginal rate.

    This is the car i am looking at

    https://www.donedeal.ie/cars-for-sale/mercedes-benz-c-class-c-200-d-avantgarde-auto/29452897

    I am just learning today about BIK tax! HAving to pay 30% BIK on the OMV it probably would not be worth my while doing it that way.


    Would anyone be able to advise me on the best way to pay for a car like this?

    Would there be any benefit to leasing etc?

    Thanks in advance



Comments

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    #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,016 Mod ✭✭✭✭Jim2007


    This is a forum about the profession, if you see professional advice discussed it with your accountant and pay them accordingly.



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