Tax and BIK on new Toyota Land Cruiser?

What is the tax and benefit in kind payable on the new Toyota Land Cruiser Commercial?

CIARAN CURRAN (ENNISTYMON)

Feb 2014 Filed under: taxation

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Expert answer

Hi Ciaran,

Benefit in kind is, unfortunately, not a fixed figure and depends as much on your personal circumstances as it does the particular car. Have a look on the Revenue website to learn more, but you’re going to need an accountant.

As for tax on the vehicle itself, the VRT payable is 13.3 per cent of the purchase price and, taxed as a commercial, it’s €333 a year, but if you’re using it for any sort of social, domestic or pleasure driving then you’ll have to tax it as a private car, and that means €1,200 per year.

Neil Briscoe - Complete Car Advisor
@neilmbriscoe