BIK on LCV's including private use

BIK on LCV's including private use

Author
Discussion

ads_4116

Original Poster:

148 posts

87 months

Monday 18th December 2023
quotequote all
Can you guys please clarify what the BIK costs are for a company van/pickup, based on including private use? I've had a look online and I'm getting conflicting information, some which say if the van is occasionally used for private use or contributions are paid towards the vehicle. So confused.

All I am after is simply the monthly BIK including private use. I think it's £3,170 divided by 12 months or is it 20% of £3,170 divided by 12 (based on being a 20% tax payer)? Or something completely different.

Cheers.

surveyor

17,828 posts

184 months

Tuesday 19th December 2023
quotequote all
This

12 months or is it 20% of £3,170 divided by 12

There is an additional amount if you get private fuel benefit (which is still a bargain).

piecost76

273 posts

174 months

Tuesday 2nd January
quotequote all
I thought the BIK was £3,960 for 2023/24

so £3,960 x 0.2 = £792

£792/12 =£66/month

https://www.moorepay.co.uk/payroll-hr-rates/van-be...