Anyone got a solution for the car BIK tax issue next April?

[bertie]

As per thread title, has anyone sorted a work around for the benefit in kind charge now the government have seen fit to remove the £80k cap coming in April?

Must affect quite a few of us surely?

[woppum]

sadly no. i dont think many people have paid attention but bound to affect alot of people. Modst people i know will buy the cars off the company. Ill have to buy the RS private too... Not sure how long this tax will stay though. will have an impact on both new and used car sales

[bertie]

It does seem to have slipped by unnoticed but must effect a lot of people.

Certainly I can't see me having another car like the Lambo Spyder new now.

[woppum]

dosent matter if its new or not. company car tax is always related to the 'new' value and dosent depreciate in line with the car. Think alot of luxury cars companies are going to suffer in the UK. If customers dont create and uproar the dealers/manufacturers will.

[bertie]

woppum said:

dosent matter if its new or not. company car tax is always related to the 'new' value and dosent depreciate in line with the car. Think alot of luxury cars companies are going to suffer in the UK. If customers dont create and uproar the dealers/manufacturers will.

Quite, that's my point, when the cap comes off the figures for BIK go ridiculous.

Let's say for instance you had a car with a £160k list price, the BIK doubles and it's going to cost you £23,600 a year in actual cash terms, just not worth it.