BIK - help please

[ivrytwr3]

Wifey has started a new role and has been given a company car - Seat Leon petrol.

She has started to see BIK deductions on her wage slip, but neither of us understand BIK

The car is kept at home and she uses it to travel to the office or wherever in the UK they send her. She has her own car and told them that the company car is for business only.

Is BIK payable in this case and any idea what the monthly payments roughly are?

Ta!

 

[ivrytwr3]

Frick, that calc says it's £149 per month

I know that's not a lot for a 25 plate, but she's only part time, 2 days per week - so that's a chunk of her monthly take home.

 

[ivrytwr3]

How much will you save or cost you if you sell the other car and use this for everything?

£150pm for insurance, servicing, tyres etc etc is very cheap motoring.

Though I'm still sure you can declare business only and not paying BIK

She's still in her probation period, but yes, we are considering selling her car and using the company car for business and personal.

I said to her £150 for a 25 plate car is a great deal, but she is just seeing the monthly figure been taken from her pay!

 

[ivrytwr3]

As she is in training/probation, she has been working full time, but her contracted hours are 2 days a week - there is extensive travelling involved in her role. So yeah, a company car for 2 days a week