TAX: WHAT YOU NEED TO KNOW
A key thing to consider when deciding on a company car is the amount of tax it'll incur. You'll
pay tax on a percentage of the P11D value of the car. The exact percentage - the BIK rate - is
worked out by the amount of CO2 emissions the car produces. The lower the emissions, the
lower the percentage.
The amount you pay will then be 20% of this figure if you're a lower rate tax payer, 40% if
you're a higher rate payer and 50% if you earn over £150,000.
You can use our Benefit in Kind Calculator to work all this out for you.
WHY HYUNDAI MAKES SENSE
With a Hyundai as your company car, you'll enjoy high levels of specification, emission reducing technologies and impressive fuel efficiency.
More as Standard
With some manufacturers, everything comes as an added extra. Hyundai is different. From Bluetooth® connectivity to cruise control and satellite navigation, our cars feature all the spec you need, as standard.
Blue Drive for lower
CO2 figures
At Hyundai we work hard to keep CO2 emissions low, which keeps your tax low too. Our Blue Drive technology features Intelligent Stop & Go and an Eco Drive Indicator to maximise fuel efficiency.
Lower BIK rates
Thanks to Hyundai's green credentials, you'll pay less tax via low Benefit in Kind rates. How low? The IONIQ Hybrid 1.6 petrol DCT Automatic starts from 17%. Just £58 per month for a 20% taxpayer.
WHY CO2 MAKES A DIFFERENCE
It's simple. The greener your car, the lower its CO2 emissions and the less tax you'll have to pay. See the examples below to see what a difference it can make.
HOW TO WORK OUT YOUR COMPANY CAR TAX
The Benefit in Kind rate is the percentage of the car's value you can be taxed on. It ranges from 9% to 37% (2017 Budget) based on the CO2 emissions of the car. That’s why Hyundai's range of low emission cars cost you less in tax.
Here's how it works:
For example:
Depending on your circumstances, HMRC will advise you how this deduction will be made. Vehicle P11D prices used for refernce purposes and may not reflect actual pricing.