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Company Vans


There is now no tax charge for the business or employee where an employee merely takes a van home with no other private use. Care is needed to ensure that criteria are met and documented procedures are in place, otherwise the tax break will be lost.
If the relief is lost the employee will be taxed upon a fixed benefit of £500 (£350 for vans over 4 years old). From 6th April 2007 this will increase to £3,000 for the van and £500 for fuel provided, irrespective of how old the van is. The business will pay national insurance on these amounts. Vans can include certain luxury pickups, but not all.

Company Cars

Have you considered a car for the business with low carbon dioxide emissions, or perhaps bi-fuel? Not only could you get the full cost of the car allowed against the business profits, but if used for private purposes then the employee suffers the lowest possible tax benefit. It is surprising what cars now have low emissions. A list of cars can be found at www.comcar.co.uk. Cars with low emissions may be a very cheap way of providing spouses with cars and saving tax.

You may wish to consider providing employees with diesel cars that were registered before 1st January 2006 and meet Euro IV emission standards. Both the business and the employee could pay less in tax and NIC.