BIK RATES FOR 2023!! CAREFUL!

Shocking selection of cars out there at the moment. 3 years ago a Skoda Superb with almost everything on it was around 48k, now it's at 52k for the 150hp diesel engine.

In our company we got lucky that the owners are taking the hit and we were granted permission to order PHEV's, otherwise the new CO2 increase would've been too much to bear.

It will probably be used in Hybrid mode 99% of the time to be honest with you. The company knows this as well. From our point of view though all we care is about less taxation, meaning those of us who are on a shorter trips for a month won't have to get up at the weekend just to drive somewhere to get the mileage up.

The worst effected people are those doing big mileage - really have to feel sorry for them as they do really need the vehicle for work.

Due to the changes in the mileage bands some drivers have slipped out of the lowest BIK bracket, that was 6% and if they are driving something along the lines of a Tiguan Auto they could now be in the 22.5% bracket. Monthly net cost difference for a €45,000 vehicle in that case is around €280 a month more - totally unfair when the decision of what to order was made in 2019.

Probably still the cheapest way of running a vehicle doing that sort of mileage, but a massive change compared to what people are used to.

No, they didn't.

It was hidden in the 2019 Finance act, that was published on the 22nd December 2019. There was absolutely no mention in the October 2019 budget that there may be any changes at all - the Government just put it in the Finance act when it was published.

It wasn't common knowledge until recently. I only discovered it in Feb 21 when I had to go digging through legislation to try and figure out what the changes were for Electric Vehicles.

Usually, 2019 vehicles would be changed this year at the latest, but due to supply issues there's going to be drivers who were due change in January (who would have ordered vehicles over a year before the change in legislation was silently released), that are going to have to stay in their current vehicles, or walk, for the next 6 months +

It's nigh on impossible to get something with low emissions, in a reasonable timeframe. Full EV or Diesel aren't too bad (if the budget is there), but there's hardly anything PHEV available, and PHEV is the only option for someone doing 35,000km a year or more, who wants to get in to a low BIK bracket - unless it's commuting to / from the office - they at least can go full EV.

That article is purely about electric vehicles under €50,000 - nothing at all to do with the introduction of the Co2 bandings as part of the BIK calculation from the start of this year, which hasn't been known for ages.

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.

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.