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Home » Green Car News » Volvo Green Cars

New diesel hybrids exempt from 3% BIK diesel levy

18 November 2011

Diesel-hybrids-exempt-BIK-diesel-levy-hmrc

HM Revenue and Customs (HMRC) has announced diesel-electric hybrids will be classed as a ‘hybrid' for tax purposes.

Diesel Hybrid Car News Page

Diesel-electric hybrids have now been incorporated in the type A tax band rather than the previous type D, which covers diesels but attracts a 3% levy on the Benefit in Kind (BIK) tax payment. This is likely to translate to a saving of at least £200 per year for company car drivers.

The clarification follows an analysis from HMRC rules and guidance notes, amidst fears that vehicles such as the low CO2 emitting diesel hybrids like the new V60 Plug-in at just 49g/km CO2 would inadvertently be incorporated in the diesel category.

The Volvo V60 Plug-in Hybrid, pictured above, will benefit from the annoucements, along with the diesel-electric HYbrid4 vehicles in the Peugeot range, that will include 3008, 508 RXH and 508 Saloon.

 

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