Contract Hire at Brooklyn Hyundai
LET'S GET DOWN TO BUSINESS
When choosing a company car, most people want high specification and great looks combined with low emissions – for lower tax rates – and running costs. Fortunately, Hyundai models offer all this and more. Which one will suit you perfectly?
TAX: WHAT YOU NEED TO KNOW
A key thing to consider when deciding on a company car is the amount of tax it'll incur. You'll pay tax on a percentage of the P11D value of the car. The exact percentage - the BIK rate - is worked out by the amount of CO2 emissions the car produces. The lower the emissions, the lower the percentage. The amount you pay will then be 20% of this figure if you're a lower rate tax payer, 40% if you're a higher rate payer and 50% if you earn over £150,000.
You can use the Hyundai Benefit in Kind Calculator to help work all this out for you.