Car Lease Tax Calculator
One of the most important pieces of information regarding leasing a business vehicle is understanding your Benefit in Kind (BIK) which determines the tax you will pay driving a company vehicle for business use.
Understanding your liabilities before you commit to any car lease agreement is clearly important, and may help contribute to the final decision of which vehicle to lease.
To help with the process there are 2 links below, to car lease tax calculators
HRMC Company Car Tax Calculator
Clearly these are the figures the HMRC use when calculating Benefit in Kind (BIK) and so time should be spent here understanding the the official CO2 figures and retail price of vehicles.
HRMC Tax Calculator
Remember as a business owner that finances a car that you use for private use (even the journey to and from work), you may be subject to paying a tax payment on the Benefit in Kind your vehicle represents.
The AA Tax Calculator
A slightly different tool presented within a spread sheet
AA Tax CalculatorThe CO2 output of your car now is represented within Benefit in Kind rather than the business mileage you do. This changed in 2002
