Changes from 2014-15
The lower threshold will be reduced from 115g/km to 110g/km.
11 per cent will now apply to cars with CO2 emissions of 76g/km to 94g/km for petrol cars and 13 per cent for diesel cars.
The appropriate percentage will increase by 1 per cent for all vehicles with CO2 emissions between 95g/km and 210g/km, to a maximum of 35 per cent.
Here are some examples of the lower % benefit in kind (BIK) tax:
|Model||List Price||CO2 emissions g/km||BIK %||Tax at 20%||Tax at 40%|
|Audi A3 Hatchback 1.2 TFSI 105 S Line 3dr||£21,655||114||15%||£650||£1,300|
|BMW 1 Series Hatchback 116d ED 3dr||£20,830||99||15%||£625||£1,250|
|Fiat 500 Hatchback 0.9 Twin Air 105 GQ 3dr||£15,260||92||11%||£336||£ 672|
|Ford Fiesta Hatchback 1.6TDCI 95 Titanuim ECOnetic 3dr||£16,345||87||13%||£425||£ 850|
|Hyundai i10 Hatchback 1.0SE Blue Drive 5dr||£ 9,795||98||12%||£235||£ 470|
|Mini Cooper Hatchback 1.5D 3dr||£16,450||92||13%||£428||£ 856|
|Toyota Auris Hatchback 1.8 VVT-I Icon Hybrid 5dr||£20,595||84||11%||£453||£ 906|
|Volvo V40 Hatchback 1.6D2 115ES 5dr||£20,345||88||13%||£529||£1,058|
Of course, the lowest appropriate percentages are still 0 per cent and 5 percent.
The 0% BIK cars are electric, for example BMW i3 Electric Car 127kW Auto Electric drive-train, 5 door, the list price for this is £30,625 but you’ll pay £25,625 with the £5,000 government subsidy.
In addition, these cars also benefit from lower road tax:
Petrol car (TC48) and diesel car (TC49)
|Band||CO2 emission (g/km)||12 months rate||6 months rate|
|A||Up to 100||£ 0.00||Not available|
|B||101-110||£ 20.00||Not available|
|C||111-120||£ 30.00||Not available|