 |
||||||||||||||||||||||
|
Home | Latest Offers | About Us | Customer Letters | Contact Details | Downloads |
||||||||||||||||||||||
|
|
|||||||||||||||||||||
|
Benefit-in-kind tax on company vans used privately will increase by 600% from April 6, 2007! However, the reform of company van tax started on April 6, 2005. From that date on, employees who have to take their vans home (for example, who are on call) and who are not allowed any other private use became exempt from any tax charge. As a transitional measure, the benefit-in-kind charge of £500 (£350 for vans over four years old) will be continued for all vans where private use is unrestricted. From April 6, 2007 the benefit-in-kind charge for unrestricted private use will increase to £3,000, and if an employer provides fuel for unrestricted private use an additional fuel charge of £500 will apply. However, the Government says that the shake-up will take 85% of employees who currently pay a charge out of the system as for the vast majority of van drivers there is restricted private use. The changes follow a consultation exercise on van tax changes held last year.
<< Back to Business Customer Solutions
Quote & Info Line: 0845 166 2405 |
|
|||||||||||||||||||||
|
|
||||||||||||||||||||||
