If you don't have the time to work out your monthly benefit in kind amount, please use the calculator below. Just input your chosen vehicle's p11d value (list price combined with VAT, delivery, cost options, & registration), select the CO2 & your tax bracket and click calculate.
| 2022/23 | 2023/24 | 2024/25 | |
|---|---|---|---|
| Monthly Benefit in Kind Rate: |
Benefits in Kind (BIK) are benefits which directors or employees receive from employment which are not included in their salary or wages. Sometimes these are also called "perks" or "fringe benefits". A company car is seen as a major perk by the taxman: and as soon as you use it for a personal reason (including commuting), it is viewed as a taxable payment.
The below rates are frozen until 2024/25
| CO2 (g/km) | Electric Range (miles | 2022-23 (%) | 2023-24 (%) |
|---|---|---|---|
| 0 | N/A | 1 | 1 |
| 1-50 | >130 | 2 | 2 |
| 1-50 | 70-129 | 5 | 5 |
| 1-50 | 40-69 | 8 | 8 |
| 1-50 | 30-39 | 12 | 12 |
| 1-50 | <30 | 14 | 14 |
| 51-54 | 15 | 15 | |
| 55-59 | 16 | 16 | |
| 60-64 | 17 | 17 | |
| 65-69 | 18 | 18 | |
| 70-74 | 19 | 19 | |
| 75-79 | 20 | 20 | |
| 80-84 | 21 | 21 | |
| 85-89 | 22 | 22 | |
| 90-94 | 23 | 23 | |
| 95-99 | 24 | 24 | |
| 100-104 | 25 | 25 | |
| 105-109 | 26 | 26 | |
| 110-114 | 27 | 27 | |
| 115-119 | 28 | 28 | |
| 120-124 | 29 | 29 | |
| 125-129 | 30 | 30 | |
| 130-134 | 31 | 31 | |
| 135-139 | 32 | 32 | |
| 140-144 | 33 | 33 | |
| 145-149 | 34 | 34 | |
| 150-154 | 35 | 35 | |
| 155-159 | 36 | 36 | |
| 160-164 | 37 | 37 | |
| 165-169 | 37 | 37 | |
| 170+ | 37 | 37 |
To calculate how much tax you'd have to pay on a company car please use the method below:
Vehicle Excise Duty (VED) is an alternative term for Road Fund License (RFL), or Car Tax. This is built into your monthly rentals, so you don't need to worry.
Cars registered on or after 1st April 2017 will be subject to the following:
Alternative fuels include hybrids, bioethanol & liquid petroleum gas
| Emissions (g/km of CO2) | Petrol & RDE2 Standard Diesel Cars | All Other Diesel Cars | Alternative Fuel Cars |
|---|---|---|---|
| 0 | £0 | £0 | £0 |
| 1-50 | £10 | £25 | £0 |
| 51-75 | £25 | £120 | £15 |
| 76-90 | £120 | £150 | £110 |
| 91-100 | £150 | £170 | £140 |
| 101-110 | £170 | £190 | £160 |
| 111-130 | £190 | £230 | £180 |
| 131-150 | £230 | £585 | £220 |
| 151-170 | £585 | £945 | £575 |
| 171-190 | £945 | £1,420 | £935 |
| 191-225 | £1,420 | £2,015 | £1,410 |
| 226-255 | £2,015 | £2,365 | £2,005 |
| 256+ | £2,365 | £2,365 | £2,355 |
Rates for second year tax payments onwards:
| Fuel Type | Single 12 Month Payment |
|---|---|
| Petrol or Diesel | £165 |
| Electric | £0 |
| Alternative | £155 |
Cars with a value of over £40,000 (including cost options, such as metallic paint) pay an annual £335 supplement for five years from the second time the vehicle is taxed.
