Employers in the car and motor industry

Employers in the car and motor industry may use the below figures as the Original Market Value (OMV). These reduced figures are used to calculate Pay As You Earn (PAYE), Pay Related Social Insurance (PRSI) and Universal Social Charge (USC). How to calculate the tax on this benefit is explained in Private use of company cars.

Motor retailers selling used cars only and short-term car hire providers

Used cars only and short-term car hire
OMVOMV for calculations
Up to €30,000 €15,000
€30,001 - €35,000 €18,000
€35,001 - €40,000 €21,000
€40,001 - €45,000 €24,000
€45,001 - €50,000 €27,000
€50,001 - €55,000 €30,000
€55,001 - €60,000 €33,000

Motor retailers selling new and used cars

New and used cars
OMV OMV for calculations
Up to €30,000 €18,000
€30,001 - €35,000 €21,000
€35,001 - €40,000 €24,000
€40,001 - €45,000 €27,000
€45,001 - €50,000 €30,000
€50,001 - €55,000 €33,000
€55,001 - €60,000 €36,000

Motor distributors and leasing

Distributors and leasing
OMVOMV for calculations
Up to €30,000 €22,000
€30,001 - €35,000 €25,000
€35,001 - €40,000 €30,000
€40,001 - €45,000 €34,000
€45,001 - €50,000 €38,000
€50,001 - €55,000 €42,000
€55,001 - €60,000 €44,000

How to calculate the reduced figure if the OMV is more than €60,000

Add 75% of the difference, between the OMV and €60,000, to the '€55,001 - €60,000' category figure. This is the value you use to calculate the tax due on the benefit.

If your employee drives multiple cars

You should use the car with the highest OMV when determining the OMV for calculating tax.

Occasionally using a car in a higher or lower bracket will not affect the OMV for calculating tax.

Using the actual OMV

Your employee has a right to calculate their taxable benefit using the actual OMV of the car(s) they use. If your employee exercises this right, you must adjust your calculation of tax so the actual OMV is used.

What happens if you do not comply?

A Revenue audit may find that you did not tax your employees' private use of cars. If so the special arrangement for motor industry employers will not apply and the full OMV will be used.