How do I calculate my BIK tax?

How do I calculate my BIK tax?

The calculation to work out the BIK tax amount payable is detailed as below.

P11d Value x BIK % banding (table below) x tax band i.e., 20%/40% or 45% there is good and very detailed example on the governments website which can be found here: http://cccfcalculator.hmrc.gov.uk/CCF0.aspx


 

Source: Budget 2014, Budget 2015, Spending Review 2015.


Notes: For cars registered since 1998. For diesel hybrid powered cars, the 3% diesel surcharge in 2014-15 and 2015-2016 does not apply. For HMRC purposes, Fuel Type E is for zero-emission cars (including those which run on electricity only), Fuel Type D is for all diesel cars (former types D and L), and Fuel Type A is for all other cars (former types P, H, B, C, G).

    Latest Car Leasing News

    Nissan Leaf Car Lease

    Nissan Leaf Car Lease

    12 Feb 2020
    Lease a Nissan Leaf today from as little as: £177.31+ VAT per month    Special Offer- Nissan Leaf Acenta 110kW Acenta 40kWh 5dr Auto (6.6kw cha ... Continue Reading
    View My Compared (0) View My Compared (0)

    Contact us

    Ring us for the Electric Revolution..

    Enquire now!

    Your data. Your choice

    We collect information about when and how you use our website so we can create a better experience and show you more relevant ads. Find out more and how to opt out in our Cookie Policy.

    OK