Company car taxation BM3 X3

[tobycgraham]

Hi,

I'm having difficulty understanding taxation around company cars and would really like some help !

As an example:

Say I earn 100k/year and have a £487.50p/m car allowance.

I've been offered a BMW X3 Estate Xdrive 30e Xline 5dr Auto for which I would have to contribute £88.50.

List price £49,350.

It has a low BIK of £98.70 and high BIK £197.40.

CO2 is 49g.

So would I be losing my car allowance (£487.50pm before tax around £300 afterwards) plus contribution of £88.50, plus £197.40 per month BIK tax = £585/m.

Would i have to pay any other taxes ? Is this a rubbish lease deal ? Would I be better off taking my allowance and getting something private ?

Thanks for your help.

[dmsims]

The diseasel version of that X3 you will be paying £550 a month BIK (a little bit less for petrol)

The only way you are going to pay less BIK is find a PHEV with a lower list price or go EV

Edited by dmsims on Saturday 25th July 20:45