PUC and BIK - erm what????

fastwunz

fastwunz

fastwunz

Soldato
Joined
12 Jul 2005
Posts
4,046
Could someone kindly tell me how Personal Usage Contribution works in relation to Benefit in Kind Tax?

Im about to order a new company car - my max PUC is £175 PCM.

Im trying to understand if the PUC is deducted from the BIK?

help!
 
So as a higher rate tax payer, my combined puc and bik is around £450 per month.

Am I correct that it will therefore cost me the BIK(£450) minus the PUC?(£175)

I.e £275 per month?
 
Best website to try is comcar, it will show you the total cost for the car you want, including the tax impact.
 
If the PUC is a revenue contribution then it would be BIK - PUC on a monthly basis. I would guess it is a revenue contribution as it's a monthly contribution compared to a capital contribution which is a one off at the time of purchase which reduces the BIK permanently from the get go.
 
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