2020.20.0.0 GB/EN

RUNNING COSTS

If you’re looking for the most cost-effective company car, don’t forget the role that fuel economy should play in your decision.

A company car driver will often focus only on the cost of benefit-in-kind taxation. However, this might lead to a higher overall cost when private fuel costs are taken into account.

The below example compares a petrol and a diesel model with the same P11D value.

Although the petrol car offers lower benefit-in-kind taxation, when we consider the cost of private mileage, diesel is the lower cost option.
 

          Petrol               Diesel
P11D         £25,000            £25,000
CO2 (g/km)          138            123 
BiK 2020/21 tax year          30%            31%
BiK 2021/22 tax year         31%           32%   
BiK 2022/23 tax year         32%           33%
Total BiK tax (20% taxpayer)         £4,650           £4,800
MPG (Combined)          44.5           53.3
Annual private mileage         7,500           7,500
Fuel price / litre (p)         125.9           133.9
Total fuel cost         £2,894           £2,569
Total cost         £7,544           £7,369

Calculate BIK and the amount of tax payable on SEAT business vehicles.

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