HMRC has published draft legislation on company car tax bands for the tax year 2020 to 2021, illustrating its plans to introduce bands for lower-emission cars while increasing the tax thresholds for higher-emitting vehicles. Top 10: Company diesel cars with the lowest BIK rate. Here’s the cheapest options available from 2020. Cars that can go for less than 30 miles will attract a BIK rate of 14% whereas those that are electric only or can travel 130 miles or more on electricity alone will benefit from a 0% BIK rate. The table represents electric, petrol and diesel related BiK rates. Diesel usually makes more financial sense for larger cars, and sometimes requires high mileage before it begins to save money over a petrol car with a lower list price. Mitsubishi wisely named its 78 hp tortoise-on-wheels the Mirage because you’ll quickly realize that any traffic behind you is an optical illusion—these cars have actually passed you eons ago. Pure Electric Vehicles (EV’s) will have Benefit in Kind (BIK) company car tax rates slashed to 0% in 2020. We’ve included each vehicle’s lowest price with all-wheel drive included. Apr 6, 2020 — BIK company cars | benefit in kind | business mileage. Higher mileage drivers may find the range and charging times of some cars may not be suitable for the type of journeys they do. With base prices as low as $14,095, there are still new and affordable sedans and hatchbacks to fit many budgets. As an example, the 2020 Mercedes-Benz GLB 200 d AMG Line has a P11D value of £36,535 and emits 133g/km of CO2, putting it in the 30% BIK band. 2020 Mitsubishi Mirage | Mitsubishi. Shop Carfax’s Used Car Listings The reviews are already in for the 2020 Mitsubishi Mirage, and it’s going to be one of the lowest-priced new cars of the year, but we have to warn you that the ratings aren’t that high. Benefit in Kind (BiK) rates for cars registered after April 2020. Electric cars are exempt from Vehicle Excise Duty – otherwise known as road tax – and for the 2020/21 financial year, beginning 6 April 2020, they're exempt from company-car tax, too. Tax changes from 2020/21. Find the 2020 Convertible with the Lowest Price. Which brings us to the point of our article; which cars will be lowest under the new company car tax changes? The cheapest cars aren’t always the lowest priced. New cars can seem so out of reach, but there are actually quite a few choices. The 10 Slowest Cars In The World In 2020. If you really want to streamline your company-car tax bills, electric cars score highly for having zero CO2 emissions, putting them in the lowest 9% Benefit-in-Kind (BiK) band. Top 5 affordable electric cars coming in 2020 Ahead of the petrol/diesel ban in 2040, we’ll be seeing more and more electric models on offer. What is the tax on electric cars? So, let’s take a look at some of the top ultra-low emission vehicles. From 6 th April, fully electric cars will pay no Company Car Tax (CCT) in 2020/21, just 1% in 2021/22 and 2% in 2022/23.. By Jason Allan. Linkedin. However, company cars registered before April 6, 2020, with emissions from 1-50g/km and a pure electric mile range of 130 miles or more attract a 2% BIK rate in 2020/21 and stay the same for the two subsequent tax years. From April 2021 you'll have to pay 1% BIK and 2% the year after. This year has been truly eventful with the release of many new automobiles, however some appear on this list of the Worst Rated Cars of 2020. In 2020-2021, the diesel surcharge of 4% continues to apply, although diesel hybrids will be exempt. Email. PHEVs are fast becoming some of the most important cars on our roads as more of us switch from pure combustion to electrified power. But 4x4s are more efficient than ever, and hybrid technology can mean some large cars with all-wheel traction have modest company car tax bills. Indeed, it’s very much a thing of now. ... COVID-19: Company Cars and BIK – What You Need To Know Now ... of coronavirus (COVID-19) everyone has been asked to stay at home”. While there are plenty of fast cars you can buy in 2020, crazy supercar top speeds are almost pointless these days. A few of these cars come standard with all-wheel-drive, but most offer it as an option. On the plus side, the price is going to be around $14,000, it’s a small size and easy to park anywhere you like and it gets great gas mileage. Meanwhile drivers of company cars registered after 6 April 2020 – all of which will have been tested on the more stringent WLTP cycle – actually get a 2% tax cut on the former 2020/21 rates from 1g/km upwards, with the maximum 37% BiK now not kicking in until 170g/km. 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