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Tax on company car

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I’m about to start a new job in a new company and have been offered a company car with the role. I understand the BIK element but just wanted to check will the value of the car be based on the list price as new? I was just going to suggest a second hand car but if the BIK is based on new that will effect what I choose! 

Thank you

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By lionofludesch
11th Sep 2018 19:16

List price when new. It changed about 10 years ago. Used to be lower after being four years old.

The list price of a 2014 car is likely to be lower than a 2018 version but do your research. An old car is likely to have higher emissions.

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By Democratus
12th Sep 2018 10:32

Check out the low / nil emmission vehicles if you are so inclined. But it is list price that BIK is calculated on.

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By carynw
12th Sep 2018 10:42

HMRC have an online calculator to check the tax implications

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