After years of funding my own way in life and indeed transport, I went back in late 2009 to being employed and receiving a company car. I had pretty much lost touch with the BIK implications of company cars but have found this website ( attached ) very useful.
You can input the car/s you are thinking of, any accessories or upgrades you are likely to specify and even plug in your salary to see what your monthly or annual payments would be.
Quite interesting to see what you pay for different models.
Seems, as a rule of thumb anyway, that you really would have to want 4x4 automatics... ( like mine ! ) The BIK tax on most of those is significantly higher than their 2wd manual equivalents by model.
Anyway, it's one of those sites where you think you'll just have a wee look at the normal cars and then find yourself experimenting with the costs of Pagani Zondas etc ! Well I do...
:-)
www.comcar.co.uk/
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And all company car drivers with a car emitting more than 100g CO2 per km will be worse of this year compared to last tax year. And worse off again in 2012/2013. And probably 2013/2014.
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Yes it does pay to choose wisely. Huge difference between my Qashqai 2.0d 4x4 auto Tekna and the exact same model with a 1.6 petrol 2wd manual set up for example. You can see why I turned down the X5 3.0d auto they wanted to give me...
( Pagani Zonda is £21k a month in BIK tax BTW ! )
Perhaps best avoided...
:-)
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Just spent all day doing my accounts and re-reading all the rules about capital allowances and tax. I know the rules are different for company car drivers but I feel your pain in all the rules and regulations.
The regulations for income tax seem to be 100% capital allowance if your car emits less than 110 c02 per KM, mine is 119 :( but in the grand scheme of things it won't make that much difference.
I can see why Prius is are quite popular now.
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Oh don't feel too sorry for us Rattle ! It's still a cheap enough deal if you don't go asking for anything silly. Just quite interesting how much difference an apparently minor upgrade can make to the tax burden and indeed how remarkably cheap some reasonably desirable kit is if you choose carefully.
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I could have had a top of the range Skoda Superb for a lot less than the Passat CC. In fact I'd have got money back each month from the company. But with higher CO2 emissions I'd have been worse off I think.
Roll on Euro VI diesels because they may become exempt from the additional 3% BIK rate. My Mondeo was exempt at the time due to it being one of the first Euro IV cars.
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>> Pagani Zonda is £21k a month in BIK tax BTW !
They used to cap the list price for a car at £80k but not anymore :-) So someone with a company car worth a lot should have swapped over to a private car with a nice allowance instead.
Rattle, don't worry about our pain as company car drivers. I could have gone for say a VW Fox 1.2 and got about £200 before tax back every month. I decided to go for a £28k car and pay up towards it. And some in my position would have gone for the BMW 520d SE for similar money. Financing brand new cars like this costs.
Would never have gone for a Prius but briefly looked at the Lexus derivative. The boot was tiny! And although the rate you'd pay tax was low you had to pay up for one and it pushed out an acceptable spec'd one out of my pay up range (i.e. there is a max we can pay up).
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I suppose we'd better shut up about all this shortly Rob. I can almost feel the bile from the pensioners oozing through the screen...
Having said that, at least they've got one. I shall have to work until I'm 82 at the last calculation...
Wonder what the BIK on a wheeled Zimmer is ?
:-)
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>> I suppose we'd better shut up about all this shortly Rob. I can almost feel
>> the bile from the pensioners oozing through the screen...
Not just pensioners! Much as I like my Y reg Focus... :)
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Nowt wrong with a Focus whatever the reg...but point taken...
:-)
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You wont get any grief from me, you have to work, I am off to somewhere hot and sunny for a month this weekend.
Retired isn't too bad. :-))))))
Last edited by: Old Navy on Wed 13 Apr 11 at 20:39
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Carry on lads, no bile here, i'll carry on with me 15 year old banger, don't you lose any sleep over us.
Govt's will gradually work their way through the whole population shafting each group (except themselves) as they go.
I've got to work 2 extra years too Hump, well till they shift the goal posts again in a few years time and then it'll probably be 4.
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>> got to work 2 extra years too Hump, well till they shift the goal posts again in a few years time and then it'll probably be 4
Tell me about it gb. I too will be between the shafts right into the knacker's yard.
Look on the bright side though. Without fat cats like Humph there wouldn't be any well run-in examples of popular models for people like us to pay over the odds for in their dotage...
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I've always fancied being a fat cat. Never quite made it. I do know some though if that counts? I'm more of a slightly hungry if personable moggie lurking around the edges of the group hoping one of the fat cats will take pity on me...
:-)
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>> I can almost feel the bile from the pensioners oozing through the screen... Having said that,
>> at least they've got one.
Our final salary pension scheme is now closed so my pension is not so good anymore. But the plan might be to quit early - hence downsizing to a 3 bed semi and getting rid of a mortgage.
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>> >> I can almost feel the bile from the pensioners oozing through the screen... Having
>> said that,
>> >> at least they've got one.
Its a right carve up these days, I had to retire 6 month ahead of schedule. Can only afford to take 4 holidays this year :(
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>> hence downsizing to a 3 bed semi
I'd rather shoot myself.
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>> >> hence downsizing to a 3 bed semi
>>
>> I'd rather shoot myself.
I wouldn't waste too much money on it, this one is quite cheap and will meet the requirement
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www.smith-wesson.com/webapp/wcs/stores/servlet/Product4_750001_750051_770020_-1_757751_757751_757751_ProductDisplayErrorView_Y
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>> I suppose we'd better shut up about all this shortly Rob. I can almost feel
>> the bile from the pensioners oozing through the screen...
LOL, thats rich that is, you driving a pensioners car and all!
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Yeah, you're probably right, maybe I'll ask for something sexy like a Mitsubishi Lancer estate next time...
:-))
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I suppose so, bit like "slacks" really...
:-)
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>Yeah, you're probably right, maybe I'll ask for something sexy like a Mitsubishi Lancer estate next time...
Good choice.
The flat cap, beige trousers and cardigan are Standard Equipment on even the poverty spec models so they won't affect your BIK.
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Great minds Kevin...great minds...
:-)
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>> Can only afford to take 4 holidays this year :(
Sorry. I've only got three booked so far this year and one is to Tuscany in May but only for a week. That's going to be a shock to the system.
As for references to beige trousers and cardigans.... it's me getting the Passat (CC) later this year:
germancarscene.com/wp-content/uploads/3-31208-passat-cc-individual.jpg
Last edited by: rtj70 on Wed 13 Apr 11 at 23:06
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>it's me getting the Passat (CC) later this year:
That comes with sandals and socks doesn't it?
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Not the Passat CC - they were options. Gloves only I'm afraid.
So Kevin, what do you drive that's a better looking car?
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My neighbour, a civil servant, has just retired though he can't be 60. Like some of you I'll be working at something til I drop.
Anyway he's bought a lovely Mitsubishi Lancer estate.
Seems to be the way to go.
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Oh, best stop throwing my rubbish over the fence into your garden now I know its you...
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>> Anyway he's bought a lovely Mitsubishi Lancer estate.
>>
Sorry, I don't understand that sentence. :-)
Last edited by: Old Navy on Thu 14 Apr 11 at 14:19
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>So Kevin, what do you drive that's a better looking car?
For work and general use, an X350 XJ Sovereign. It came with a smoking jacket, golf bats and RAC Club membership.
This www.jag-lovers.org/350x/usa/xj01.jpg without the bonnet mascot.
For medicinal purposes and weekend fun, a Camaro Z28. Standard Equipment includes a NASCAR baseball cap, Jack Daniels Tee shirt and airhorns that play Yellow Rose of Texas.
Like this one tinyurl.com/5v697m2
:-)
Last edited by: Kevin on Thu 14 Apr 11 at 20:24
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Last edited by: Zero on Thu 14 Apr 11 at 20:33
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Wish we had something comparable to Camaro's and the like over here :-( seriously cool cars. It would need to have big lumpy cams on it right enough, love the noise of a lumpy idle, just anticipation really waiting for the throttle to be nailed!
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Benefit in kind - rtj70
