Guide to BIK on Company Vehicles
As part of the government’s Climate Action Plan to lower emissions there are some changes to the rules for calculating Benefit-In-Kind on motor vehicles.
Before 2023 the BIK on company cars was based on the OMV (original market value) of the car and the mileage.
From 01 January 2023 BIK on company cars will be based on the OMV (original market value) of the car, the mileage plus the vehicle’s CO2 emissions.
Our guide includes information on:
- Changes to the rules for calculating BIK on motor vehicles
- CO2 Emission Bands
- Calculating BIK on company cars
- Calculating BIK on electric cars
Last updated: 15th November 2022