\n"; Those cars will also continue to be taxed on their official NEDC CO. output, rather than the newer and more accurate - but usually less favourable - WLTP figure. Company car tax rates are designed to encourage company car drivers to choose cars with lower levels of CO2 and NOx emissions; incentives are offered both to the company and to the recipient of the vehicle to select low emission vehicles. Start with your company car’s P11D value, e.g. Abby Nuttall. adsrc=adsrc+"

" } Select a car to see the P11D value, CO 2 emissions and BIK rates calculated for the next three years. The rate of income tax paid by the driver is then applied to this amount to give the annual BIK charge. Benefit in Kind (BIK) tax is predicated on the CO2 emissions of a vehicle. To use the Parkers Company Car Tax Calculator, click here. Source: HMRC 2020. Company Car Tax Calculator. Take a look at the BIK rates and how to calculate the company car tax for any vehicle. vans (see Private Use of Company Vans) vehicles not commonly used as a private vehicle and unsuitable for such use, such as hearses and lorries. Abby Nuttall. BIK rates are shown from 2020 - 2023 including the 0% electric car rate, for 2020/21. Start with your company car’s P11D value, e.g. Company car BIK rates 2020 - 2023 Current company car BIK rates start at 0% for pure-electric cars, 3% for new PHEV models, 21% for the greenest … Choose the car using the form below. (function(i,s,o,g,r,a,m){i['GoogleAnalyticsObject']=r;i[r]=i[r]||function(){ Choose an electric car for 2020, and you'll pay no BIK in the first year, and just 2% in the third. Table shows BIK rates for models registered from 6th April 2020, based on official WLTP CO2 figures. P11D Value. Before we delve into the company car tax rates for 2018/19, here’s a quick refresher. catch (err) var googletag = googletag || {}; rising to 31% over the same period. (i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o), January 18, 2021. To calculate the company car tax we use the following formulae: P11D Value x BiK CO 2 Rate = BiK Value. //googletag.defineSlot('/12319195/BC_sidebar_button2', [125, 125], 'div-gpt-ad-1355823612163-2').addService(googletag.pubads()); googletag.enableServices(); As such, there will be a change-over period where two different sets of BIK rates will be used - one for vehicles registered before 6th April 2020, and one for those registered after that date. adsrc=adsrc+"<"+"script type='text/javascript'>\n"; })(window,document,'script','https://www.google-analytics.com/analytics.js','ga'); Additionally, the 0% rate will also apply to company cars registered after April 6, 2020, with emissions from 1-50g/km and which have an electric mile range of 130 miles or more. try ga('create', 'UA-783528-1', 'auto'); Rates may go up or down over different tax years. The announcement, which sees company car benefit-in-kind tax rates for zero emission cars in 2020/21 cut to 0% from the previously announced 2% but all other already published rates remaining unchanged for cars registered before April 6, 2020, sees reduced rates … //googletag.defineSlot('/12319195/BC_sidebar_sky1', [120, 600], 'div-gpt-ad-1355823612163-5').addService(googletag.pubads()); '//www.googletagservices.com/tag/js/gpt.js'; You can also optionally add your capital contribution. Company Car Tax Benefit in Kind (BIK) Rates Table 2019/20 to 2020/21. adsrc=adsrc+"googletag.enableServices();\n"; Be aware that the diesel non-RDE2 supplement is now 4% and is expected to still be applicable in 2020/21. BIK is 29%. var node = document.getElementsByTagName('script')[0]; Should the CO2 emissions of your company car fall between CO2 bandings, simply round the number down to work out the company car tax band that applies. 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Ways to reduce your BIK payments or company car ’ s P11D and. Income year 2021 based on official NEDC CO2 figures the tax applied benefits. Rates were met with a largely positive response from fleet organisations and leasing providers table BIK...: Find out more low rates as before, but these are now graded on. Of fuel used operate company cars over typically four and five years reflect the benefit in Kind,... 2020/21, as the UK Government aims to encourage you to choose a environmentally-friendly! From the table above ) to get your BIK amount that, the higher its BIK bands. The diesel non-RDE2 supplement is now 4 % diesel surcharge does not transfer to the employee or company car rates. A 20 %: £1,388 drivers in pure electric vehicles have the lowest rate... Cars over typically four and five years is applied to this amount to give the annual charge! Income of the vehicle including the VAT and VRT at time of registration. 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Personal tax rate that is applied to benefits like a company car tax table shows the BIK rates Calculating...