When a company car is made available for the private use of an employee a 'benefit in kind' (BIK) tax value is calculated in relation to the car.
On selection of manufacturer, model and variant, and taking into account your tax band and whether your employer pays for your private fuel, the calculator will determine the value of any BIK tax that you would be liable to pay for the provision of company car and car fuel benefit.
Find a vehicle
(Select the manufacturer name, the model and the variant)
Your Financial Details
|Monthly Company Car Tax Total|
|Benefit in Kind Rate|
|Car Taxable Benefit in Kind|
|Less Trade Down Before Tax and NI|
|Taxable Cash Alternative|
|Car/Cash Taxable Value|
|Less Private Usage Contribution **|
|Net Car/Cash Taxable Value|
|Car/Cash Tax payable|
|Monthly Car/Cash Tax Payable|
|Monthly Private Fuel BIK Tax Cost *||
|Monthly Private Usage Contribution **||
|Monthly Trade Down After Tax and NI||
|Monthly Company Car Tax Total||
^ Paid through an adjustment in your tax code.
* Private fuel only applies if your company provides you with fuel for private motoring. The private fuel cost is calculated by multiplying the fuel benefit charge multiplier by the appropriate percentage used to calculate the car benefit charge for the chosen car, then multiplying by your marginal rate of tax. The fuel benefit charge multiplier may be subject to change in future years; the calculation is based on year one.
** Where a Private Usage Contribution is stated, this figure has been used to offset some of your BIK/Cash Alterative liability. This is because the contribution stated is assumed to be a Private Use Contribution (PUC). If this is not the case, please refer to your scheme policy to clarify any tax implications.
Annual PUC values and total costs may vary where your company policy requires PUC to be paid over a period less than the period of the vehicle contract.
NOTE: The tax values shown are based on tax legislation and rates as well as published vehicle information applicable at the time of quotation and may be subject to change. Further guidance can be obtained from the HMRC website. ^