The following Employment Tax guidance note by Tolley in association with Philip Rutherford provides comprehensive and up to date tax information covering:
The tax rules relating to company vans are reasonably simple compared with the company car rules. Generally speaking, where vans are provided for business use with only small amounts of private use then no taxable benefit arises.
A benefit in kind charge arises on an employee under the company van provisions if all of the following steps apply:
ITEPA 2003, ss 114, 115
This guidance note discusses the provision of vans from both the employee and the employer’s perspective and how and when tax consequences arise. For consideration of whether a fuel benefit arises please see the Fuel ― company vans guidance note.
There is a definition of a van within ITEPA 2003, s 115(2). A van is a mechanically propelled road vehicle which is not a motor cycle and:
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login
To view our latest tax guidance content, sign in to Tolley® Guidance or register for a free trial.