The following Personal Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
Where an employer allows an employee or director with a company-owned van which is available for their private use (aside from insignificant private use), a taxable benefit arises. A van in this context is a mechanically propelled road vehicle which is a goods vehicle weighing less than 3.5 tonnes.
ITEPA 2003, ss 115, 154
The benefit from the private use of a van is likely to be much lower than the benefit from the use of a company car and therefore it can be useful to suggest that a client uses a vehicle which qualifies as a van (eg a double cab pick-up, see below).
SI 2003/2682, reg 61M; Employment notes , page EN2
HMRC provides an Expenses and benefits from employment toolkit , which is a guide for employers and their advisers on the risks associated with the end-of-year forms P11D and should help avoid common reporting errors. The toolkit is updated annually.
Also see the Checklist ― company van and fuel for issues to consider when dealing with clients with company vans and private fuel.
As with any
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