Company car tax bands 2022/2023: everything you need to know | Autocar

  • 📰 autocar
  • ⏱ Reading Time:
  • 54 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 67%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Updated company car tax bands 2022/2023: everything you need to know

are now largely frowned upon, with the result that emissions tests have become tougher for them. The latest – mandatory on all new diesels sold from January 2021 – is called Real Driving Emissions Step 2 .

Diesels registered before this date that aren't RDE2-compliant attract a 4% surcharge on their published BIK rate, up to 37%. Remember that if you’re considering a used diesel as your company car. To be clear, all new diesels are RDE2-compliant, meaning the 4% surcharge does not apply. Diesel-electric hybrids are classed as alternatively fuelled vehicles so avoid a surcharge whether they're RDE2-compliant or not.Zero CO2 emissions ensures that electric cars enjoy the lowest BIK rate. In 2020/21, it was actually 0%; but in 2021/22, it rose to 1%; and from 2022/23, it will be 2% until the end of the 2024/25 tax year. Either way, EV drivers pay much less company car tax than others.

There are five BIK rate bands for hybrids. Cars with an electric-only range greater than 130 miles attract a rate of 2% in the 2022/23 tax year . At the other extreme, those with an electric range of fewer than 30 miles fall into the 14% band.The Corsa is a big hit with company car drivers seeking sharp looks, good performance and a low tax bill.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 93. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines