How much would an M5 cost

[Maccapacca]

How much would an new M5 cost to lease through my Company and then what would I have to pay in tax?

http://www.tilsungroup.com/bmw-m5-m5-4dr-dct-saloon-car-36399#.UrbTq_RdWoM

 

[Dr House]

I am no expert but I think its much cheaper to lease it your self and then just claim miles from your company.

And the offer you liked to is VERY expensive

http://www.silverstonefleetmanageme...rs/bmw/m5-saloon/m5-saloon-m5-4dr-dct-5111679

 

[[TW]Fox]

The BIK would be hilariously punishing, you really wouldnt want to be running an M5 as a company car.

Do it privately then expense your mileage.

 

[Jokester]

Yeah, I'm not an accountant, but my understanding now is that it's only really worth leasing "works" vehicles through your company now a days as you don't get any tax benefits for a normal car. It's probably why there's been a proliferation of pickup trucks on the roads the last few years as they still fall in the work vehicles class apparently.

 

[Dr House]

Yeah, I'm not an accountant, but my understanding now is that it's only really worth leasing "works" vehicles through your company now a days as you don't get any tax benefits for a normal car. It's probably why there's been a proliferation of pickup trucks on the roads the last few years as they still fall in the work vehicles class apparently.

The government has taken the fun out of life in so many ways. I remember when I was young and my dad was a lab technician in a big pharma company. He would dram of the day when he could work his way up to being a manager so that he would get a company car. When he finally got there it was not even worth taking dude to the BIK!.

 

[Skidder]

Depends what type of company. If an LLP, partnership or sole trader there is no BIK

 

[Ev0]

On my company lease scheme I seem to remember an M5 being 2k a month.

Now the headline lease cost isn't a great deal on our scheme, but as Fox says the BIK is rather a lot

 

[unrealrocks]

Guessed a few of the figures on the HMRC calculator but given you are in the 40% tax bracket (which I assume given you are considering an M5 you are) it is roughly ~£7600 just for BIK :S

Edit - Sorry that is Tax, the BiK is £25,400, LOL!

 

[Jokester]

Guessed a few of the figures on the HMRC calculator but given you are in the 40% tax bracket (which I assume given you are considering an M5 you are) it is roughly ~£7600 just for BIK :S

How much if he was only being paid less than the tax threshold?

 

[Dr House]

If you are only on the 20% bracket:

Car Benefit Percentage
35 %
Cash Equivalent Value
£25,566
Annual Tax at 20 %
£5,113
Monthly Tax at 20 %
£426

 

[Dr House]

or if you are in the 40% bracket
Car Benefit Percentage
35 %
Cash Equivalent Value
£25,566
Annual Tax at 40 %
£10,226
Monthly Tax at 40 %
£852

If you are making money and need a tax deduction it makes MUCH more sense to buy a panamera e-hybrid.

You can wright off 100% in one year, 0% BIK for the first year followed by 5% after that.