Company car tax
If you have a company car, you’ll have to pay tax on it called Benefit-In-Kind (BIK). The amount of tax you’ll pay depends on your earnings, the cost of the car and the amount of CO2 the car produces.
Considerations
So how does this all work?
From April 2002 a graduated system of tax was introduced that uses a vehicles CO2 emissions to determine the amount of company car tax an individual pays on a company supplied vehicle. A vehicle's CO2 emission level determines the percentage of the vehicle’s P11D value (List Price) that can be taxed. This means that vehicles with lower CO2 emissions will incur a lower tax liability. This is only applicable to passenger cars, Light Commercial Vehicles (LCV’s) work on a different calculation using a fixed value of £3,430 multiplied by the individuals tax rate.
Select a vehicle below to view its BIK rates
Mitsubishi BIK Rates
Monthly £ amount paid by end user (2019-2020 tax year). List Prices and BIK rates correct at time of publication - 9th April 2019
Commercial Vehicle BIK assumes private use with no fuel benefit
Commercial Vehicle BIK assumes private use with no fuel benefit