Company Car Tax - What You Need To Know
A key element to consider when choosing a company car is the amount of tax it'll incur. You will pay tax on a percentage of the P11D value of the car. The benefit in kind (BIK) rate is worked out by the amount of CO2 emissions the car produces. The lower the emissions, the lower the percentage.
How do I calculate my BIK tax?
To calculate the company car - or BIK - tax, multiply the P11D value by the BIK percentage banding, then multiply that figure by your tax band - i.e. 20% or 40%. This will give you your annual tax. Divide by 12 to get your monthly outgoing.
P11D Price x BIK Rate x Personal Tax Band = Annual tax you will need to pay. HMRC will advise you how this deduction will be made.
P11D Price Lists
Why Jeep Makes Sense
Choose Jeep for your company car and you'll enjoy high levels of specification, impressive fuel efficiency and emission reducing technologies. Not only does our range have something for everyone, but will also have flexible finance options that will work for you, whether you are self-financing or funded by your company.
At Read Jeep we can get you on the road in just 4 simple steps:
What are the Benefits of Choosing Jeep?
Driving an Jeep for your business not only gives you access to our full range of award-winning vehicles, but you'll also enjoy benefits including:
Why C02 Makes A Difference
The greener your car, the lower the CO2 emissions meaning you'll pay less tax.