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The Government has announced a new tax measure for PHEV company cars.* This PHEV easement is available on qualifying vehicles made available to employees between 1st January 2025 and 5th April 2028. For vehicles purchased between these dates, the protection will run until 5th April 2031.
This means BIK tax on Lexus NX Plug-in Hybrid & Lexus RX Plug-in Hybrid has been reduced to only 10%, making both these models an even more attractive proposition for company car drivers.
Make an enquiry to discuss this further with your local Business Centre Manager.
*Full legislative details here.
What is Benefit In Kind (BIK)?
This is a benefit that any employee receives which is NOT included in their salary. In this case a company car is classed as a BIK, which are taxed in accordance to the income of the employee.
What is P11D and what does the value include?
This is a form that must be completed by the employer and sent to the tax office every year. The P11D value includes the cost of the car (including RRP), VAT, added extras and any delivery costs. First registration fee and road tax are not included.
Why are CO2 emissions included in the pricing model?
Lower car emissions equals lower car tax bills. That is what makes Toyota a great choice for a company car thanks to our range of self-charging and plug-in hybrids and all-electric vehicles.
Please note P11D price from is the for the base grade, whilst our images may be of a higher specification.
Tax calculation based on 20% tax payer for tax year 26/27, on base model with no optional extras chosen.
Steven Eagell Limited is authorised and regulated by the Financial Conduct Authority (FCA Reference Number 671531) as a credit broker. We are not a lender or an independent financial advisor. In the first instance, we will introduce you to Lexus Financial Services and provide you with information regarding the finance products available to enable you to decide whether a particular finance product from Lexus Financial Services is right for you based on the information provided. In the event that Lexus Financial Services is not able to provide credit, we will refer you to another trusted credit broker already known to us. This credit broker will attempt to source credit for you through an alternative panel of lenders.
You are not required to use Lexus Financial Services or any other lender introduced by our trusted broker. We do not charge you a fee for an introduction to Lexus Financial Services or to our trusted broker but we will receive a commission if you use their services, this is normally a fixed fee or a fixed percentage of the amount you borrow. The level of commission will vary dependant on the product and the lender that you use. We will inform you of the amount of commission that we will earn in good time before the finance agreement is entered into and ask you to consent to its payment. You do not have to take our finance. You can arrange funding of your vehicle elsewhere and in some cases it may be cheaper.
Steven Eagell Limited is also an appointed representative of Ingeni Services Group Limited, Unit 11, Atlas Works, Foundry Lane, Earls Colne, Colchester, CO6 2TE, which is authorised and regulated by the Financial Conduct Authority. Ingeni Services Limited's (FCA Reference Number 747381) Ingeni Services Group Limited business is to act as an agent on behalf of the insurer for insurance distribution activities only. We do not charge you a fee for our services as an insurance intermediary. We will earn a commission from the insurance provider for introducing you to them. The nature or level of commission we receive will not alter our advice to you and will depend on the product that you purchase.
For full details of our FCA Commission Status Disclosure please click here