company car

[jaws104]

Lease is up on Skoda Superb in new year, good car, no complaints at all but need a change.

Not really into cars like i was years ago & very out of the loop what's decent, looking for suggestions

Budget around £50k. Automatic. Hybrid would be ok but not plug in. Do a bit of mileage for work but nothing crazy

 

[Kenai]

This surely can't be sensible financially? A non plug in car, even a Toyota/Lexus hybrid is going to be stinging you for potentially 30% BIK unless you opt for a particularly depressing engine with super low emissions.

On a £50k car (like a Lexus ES300h Premium Plus) you're looking at roughly £500 per month in tax alone as a 40% tax payer.

If you don't want anything plug in or EV based, is there an option to take an allowance instead? If it's not particularly restrictive in terms of what they want you to run and you're not doing 'crazy' miles for work, that might be a more sensible way to get what you want.

 

[lordrobs]

This surely can't be sensible financially? A non plug in car, even a Toyota/Lexus hybrid is going to be stinging you for potentially 30% BIK unless you opt for a particularly depressing engine with super low emissions.

On a £50k car (like a Lexus ES300h Premium Plus) you're looking at roughly £500 per month in tax alone as a 40% tax payer.

If you don't want anything plug in or EV based, is there an option to take an allowance instead? If it's not particularly restrictive in terms of what they want you to run and you're not doing 'crazy' miles for work, that might be a more sensible way to get what you want.

Spot on. If the reason for not wanting a plug in is that you have nowhere to plug it in then by far the best financial move is to get a plug in hybrid anyway and simply never charge it.

On that note, get yourself on that 5% BIK rate while it's currently available. Will be your best option until 28/29 tax year when the big leap to 18% happens. New Superb and Passat both have enough EV range to get into that category.

 

[jaws104]

I'm not in UK (ROI), id have to double check but pretty sure no BIK benefit for hybrids, only full EV.

BIK is only 8% on commercial vehicles though. Mate was suggesting a discovery commercial, losing 2 seats wouldn't be an issue