Company car BIK on I-Pace - worth checking

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Jasonfaz
Posts: 35
Joined: Sat Feb 16, 2019 7:09 am
Location: Lancashire

Company car BIK on I-Pace - worth checking

Post by Jasonfaz » Fri Feb 07, 2020 2:37 pm

Just thought I would share this. I have today received my new tax code for 20/21 and expected to see a huge change given the I-Pace should reduce from over £11,000 BIK to zero. It had not.

I logged onto the gov page and checked, the I-pace is on as my company car with a CO2 of zero. But what I had to do is update it to be "Electric" which was not a previous option. Hopefully this will recalculate over the next couple of days and I will then get the tax code I have been dreaming of.

Worth checking!!


fa147
Posts: 775
Joined: Thu Aug 08, 2019 1:25 pm
Location: London / United Kingdom

Re: Company car BIK on I-Pace - worth checking

Post by fa147 » Fri Feb 07, 2020 3:17 pm

Jasonfaz wrote:
Fri Feb 07, 2020 2:37 pm
Just thought I would share this. I have today received my new tax code for 20/21 and expected to see a huge change given the I-Pace should reduce from over £11,000 BIK to zero. It had not.

I logged onto the gov page and checked, the I-pace is on as my company car with a CO2 of zero. But what I had to do is update it to be "Electric" which was not a previous option. Hopefully this will recalculate over the next couple of days and I will then get the tax code I have been dreaming of.

Worth checking!!
Yes, thank you for letting us know... this is the value of this forum and it's excellent members.
I-Pace MY20 HSE, Corris Grey, Ebony/Ebony Interior, 20” Grey & Diamond Turned, Panoramic Roof
IMC: 19C_19.46.4-458817 | Telematics: 16.2 | Map 8.30.100.156
Home Charging: Zappi 2.0


dave664
Posts: 2
Joined: Fri Feb 07, 2020 5:07 pm
Location: United Kingdom

Re: Company car BIK on I-Pace - worth checking

Post by dave664 » Fri Feb 07, 2020 9:59 pm

It's also worth noting that the BIK rate of 0% isn't law yet. You may remember the government were a bit busy over the last few months and have postponed last years budget until March.
The assumption is that it will go through, but....
Gotta hope so, I've got my order in based on that!


Foulenough
Posts: 14
Joined: Sun Nov 10, 2019 7:56 am
Location: London

Re: Company car BIK on I-Pace - worth checking

Post by Foulenough » Sat Feb 08, 2020 9:06 am

dave664 wrote:
Fri Feb 07, 2020 9:59 pm
It's also worth noting that the BIK rate of 0% isn't law yet. You may remember the government were a bit busy over the last few months and have postponed last years budget until March.
The assumption is that it will go through, but....
Gotta hope so, I've got my order in based on that!
Goodness, hadn’t realised that! It’s been very unhelpful, then, for people like Giles Coren in the Times to gloat about free cars from the government. HMRC hates that kind of thing. The Treasury might also argue that the new focus on 2035 changes the incentives - or, at least, the policy change means that a different Excel model has been built by a different 21 year old fast-tracker behavioural economist. And there’s the EV grant to think about as well, lots of different levers to play with.
Corris Grey SE, HUD, 20”, panoramic roof, air suspension (arriving in April)


swing
Posts: 5
Joined: Mon Apr 22, 2019 4:31 pm
Location: UK

Re: Company car BIK on I-Pace - worth checking

Post by swing » Fri Feb 14, 2020 7:10 pm

Jasonfaz wrote:
Fri Feb 07, 2020 2:37 pm
I logged onto the gov page and checked, the I-pace is on as my company car with a CO2 of zero. But what I had to do is update it to be "Electric" which was not a previous option. Hopefully this will recalculate over the next couple of days and I will then get the tax code I have been dreaming of.
Did that actually recalculate for you? I changed the car type to Electric, but a few days later the tax for next year was still the same...


Jasonfaz
Posts: 35
Joined: Sat Feb 16, 2019 7:09 am
Location: Lancashire

Re: Company car BIK on I-Pace - worth checking

Post by Jasonfaz » Fri Feb 14, 2020 11:50 pm

No, I’m fact, it got worse! Sorry if I mislead anyone. Maybe we do need to wait for the actual Budget, 20th March I think. 😨😨


oop north
Posts: 352
Joined: Thu May 24, 2018 3:41 pm
Location: NW England

Re: Company car BIK on I-Pace - worth checking

Post by oop north » Sat Feb 15, 2020 9:24 am

Jasonfaz wrote:
Fri Feb 14, 2020 11:50 pm
No, I’m fact, it got worse! Sorry if I mislead anyone. Maybe we do need to wait for the actual Budget, 20th March I think. 😨😨
Budget supposed to be 11 March but don’t know if the change of Chancellor this week will delay
it’s here! Arrived 29.04.19, HSE, MY20, Caesium Blue, tan interior, black bits


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