Search
Close this search box.
Sign up for our weekly Newsletter

Bentley: ‘we are now a viable Benefit-in-Kind tax choice’

Plug-in powertrain opens door to driving luxury brand’s models.
241003 bentley continental

Share

3 October 2024

Company car drivers looking at their potential vehicle choices and the benefit-in-kind (BiK) tax implications have rarely been able to consider driving a Bentley – but now the luxury car manufacturer reckons it deserves a place on the listings.

Bentley is in the process of launching the new, fourth-generation version of its Continental GT Speed, GTC Speed and Flying Spur, and all are now fitted with the brand’s new Ultra Performance Hybrid powertrain.

The plug-in hybrid system matches a 4-litre V8 engine to a 190hp electric motor, producing 782hp and 1,000Nm of torque. In the case of the Continental GT a 0-60 mph in 3.1 seconds results and crucially the system offers a WLTP-certified range of 50 miles and low CO2 emissions figures – the Continental GT’s is certified at 29 g/km.

As a result for both Benefit in Kind and Write Down Allowances for the Bentley models are no longer in the ‘Special Pool’ but ‘Main pool’ bracket, producing major reductions in the cost implications for both the driver of and the company providing the car.

As an example, a typical Bentley Continental GT buyer may expect to spend around £250,000. According to Bentley’s figures multiplying this figure by the ‘Main Pool’ 8% BiK produces a £20,000 taxable benefit. For a typical 45% additional rate tax payer that will result in a £9,000 BiK tax bill.

In the previous Special Pool Bracket the list price would have been multiplied by 37% BiK, producing a £92,500 taxable benefit, leaving that 45% tax payer facing a £41,625 BiK tax bill.

Similarly for the company, the write-down allowance of a car in the Special Pool Bracket is just 6% per year so in the case of the £250,000 car, £15,000. With the Continental now sitting in the Main Pool bracket companies can claim an 18% write down allowance, so in this case £45,000.

So could Bentleys become more widely adopted high-end company cars? Time will tell.. Meanwhile Business Motoring will be bringing readers a road test of one of the new plug-in models in the coming months – watch this space.

Award Winners 2024

Share this article

Facebook
Twitter
LinkedIn
WhatsApp
Reddit
Email

Want more motoring news?

Sign up here for our free weekly serving of motoring.

Sign up here for our free weekly serving of motoring.

Picture of Andrew Charman

Andrew Charman

Andrew Charman has been a motoring journalist for more than 30 years, writing about vehicles, technology and the industry. He is a Guild of Motoring Writers committee member and has won several awards including for his business coverage.

Latest news

Top

Enter the 2024 awards

Showcase your achievements, gain industry recognition, and elevate your brand to new heights