EV BIK and Fuel cost Question
Discussion
Hi,
My wife is in negotiations in regards to a new job that offers a company car Upto approx 35k or a allowance of 8k a year.
I don’t have details of what criteria we would have to follow to get the allowance but I think her current car would be too old and would require swapping to something more suitable.
With the above in mind we still felt that the allowance would be more viable as with + £4800 would be better than a big tax bill for a company car.
This got me looking at BIK on electric vehicles (mainly BMW I3 and Tesla 3) as I read that BIK next year would be 0%. This looks appealing as there is no way we could buy and run one of those personally for 5k a year. Am I missing something or is this the way to go? Another question I have is what happens with mileage I.e what would normally be petrol/diesel costs charged back to the company? This job is working from home but with 1 office visit per week (200 mile round trip) plus any other site visits. Who pays for the electricity?
Any assistance would be great, apologies if I’ve missed anything out or asking something simple!
My wife is in negotiations in regards to a new job that offers a company car Upto approx 35k or a allowance of 8k a year.
I don’t have details of what criteria we would have to follow to get the allowance but I think her current car would be too old and would require swapping to something more suitable.
With the above in mind we still felt that the allowance would be more viable as with + £4800 would be better than a big tax bill for a company car.
This got me looking at BIK on electric vehicles (mainly BMW I3 and Tesla 3) as I read that BIK next year would be 0%. This looks appealing as there is no way we could buy and run one of those personally for 5k a year. Am I missing something or is this the way to go? Another question I have is what happens with mileage I.e what would normally be petrol/diesel costs charged back to the company? This job is working from home but with 1 office visit per week (200 mile round trip) plus any other site visits. Who pays for the electricity?
Any assistance would be great, apologies if I’ve missed anything out or asking something simple!
edition said:
Hi,
My wife is in negotiations in regards to a new job that offers a company car Upto approx 35k or a allowance of 8k a year.
I don’t have details of what criteria we would have to follow to get the allowance but I think her current car would be too old and would require swapping to something more suitable.
With the above in mind we still felt that the allowance would be more viable as with + £4800 would be better than a big tax bill for a company car.
This got me looking at BIK on electric vehicles (mainly BMW I3 and Tesla 3) as I read that BIK next year would be 0%. This looks appealing as there is no way we could buy and run one of those personally for 5k a year. Am I missing something or is this the way to go? Another question I have is what happens with mileage I.e what would normally be petrol/diesel costs charged back to the company? This job is working from home but with 1 office visit per week (200 mile round trip) plus any other site visits. Who pays for the electricity?
Any assistance would be great, apologies if I’ve missed anything out or asking something simple!
My companies policy is c.11p for petrol and 4p for EV. As for who pays for the electric.... you do?My wife is in negotiations in regards to a new job that offers a company car Upto approx 35k or a allowance of 8k a year.
I don’t have details of what criteria we would have to follow to get the allowance but I think her current car would be too old and would require swapping to something more suitable.
With the above in mind we still felt that the allowance would be more viable as with + £4800 would be better than a big tax bill for a company car.
This got me looking at BIK on electric vehicles (mainly BMW I3 and Tesla 3) as I read that BIK next year would be 0%. This looks appealing as there is no way we could buy and run one of those personally for 5k a year. Am I missing something or is this the way to go? Another question I have is what happens with mileage I.e what would normally be petrol/diesel costs charged back to the company? This job is working from home but with 1 office visit per week (200 mile round trip) plus any other site visits. Who pays for the electricity?
Any assistance would be great, apologies if I’ve missed anything out or asking something simple!
I'm too contemplating handing back my personal BMW I3 REX but uncertain whether its a smart move to take the money or go Hybrid company car.
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