Pick Up Truck Uk Company Car Tax

Click the links below or at the top left of this page to discover our view on all the pick up models currently available the best pick up trucks to buy now. Pickup truck tax explained if you are one of the many thousands of uk motorists who benefit from driving a company car or if you own a business being tax savvy when choosing your vehicle could save you a considerable amount of money courtesy of her majestys government. So if you drove a car emitting 169gkm of c02 like the latest nissan navara 23dci tekna pickup youd face a whacking annual bik tax liability of 33 per cent of its almost 32k.

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Does A Pickup Make Sense As A Company Car Parkers

Currently hmrc classifies these pick ups as vans as long as they have a payload of 1 tonne 1000kg or more.

Pick up truck uk company car tax. Any pickup truck that is classed as a light commercial vehicle is subject to the same flat rate tax rates as a van. If that happens it could mean millions of pounds in extra revenue heading to the treasury at the expense of all those businesses using double cab pickups. Drivers of company cars are also taxed on private use fuel paid for by their employer and once again pick ups can benefit from significant savings here. Tax experts rsm uk are even advising caution in relation to hmrc guidelines.

You then divide this by your personal tax band so say its 20 that then gives you 300 a year in company car tax. Hence the rising number of lifestyle pickup sales in recent years as their financial appeal has encouraged some drivers to choose them instead of a conventional company car or suv. But the silver lining to this is that you dont have to pay company car levels of benefit in kind taxation. Company car drivers are taxed on private use fuel thats paid for by the employer and again pickups can bring big savings here.

Yes if you have a company provided double or single cab pick up and use it for private mileage. This will give you a bik rate of 1500. For the 20172018 tax year the taxable benefit amount is 610 and hence youll be taxed at 20 or 40 of this figure. If your company also pays for private mileage fuel in your double cab pick up you as the driver is taxed on this too.

The 20182019 taxable beneift amount is 633 and youll be taxed at 20 or 40 of that depending on your banding. Double cab pick up tax change could hit company car drivers. For example say your company car has a p11d value of 10000 and a company car tax rate of 15. The annual company double cab tax liability for free fuel is 610 the same as the van fuel benefit.

So a 40 income tax payer will be charged 40 of 610 for free fuel.