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Thread: New Tax Law On Vans
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15-12-2005, 10:33 PM #1
New Tax Law On Vans
i have been told unofficially by friends who have heard from friends but no-one can tell me exactly whats going on.
they say tax laws are changing on company vans to 33% of the cost new for the first three years and then reducing there after. can anyone tell me what is going on and when it comes into force i am being told april , this will mean an end to the attraction of a van where i was quite happy paying tax on a flat rate £500
seems alot to me but if its right the old tax man is in for a major increase in revenue
please tell me they have it wrong
merry xmas all
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16-12-2005, 01:48 PM #2
Re: New Tax Law On Vans
The UK Chancellor of the Exchequer produces and annual budget report in about December in advance of the next years budget, due in March (2006).
Here?s the report in full:
http://www.hm-treasury.gov.uk/media/...eport_1980.pdf
Treasury web site:
http://www.hm-treasury.gov.uk/
A quick look-see of the report does not show anything specific to vans other than tax incentives for the promotion of new energy efficient engine types. You may want to look a bit deeper yourself an you may find something I?ve missed. However there are changes envisaged for company cars and the fuel allowance if it is provided for private use.
The budget itself will obviously be the final word.
Why not ask them if there are any proposed changes to the finance act that affect commercial vans.
________
drug testLast edited by Argus; 07-02-2011 at 08:45 AM.
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16-12-2005, 06:48 PM #3
Re: New Tax Law On Vans
Originally Posted by Argus
thanks for the advice and the links i will check them out and see what i can find.
i have asked my boss what he knows and he tells me he is not sure of the exact figure but says i can expect to loose tax relief of about £1500 and actually costing me £350-£400 with the fuel allowance for private use on top
he is our national service manager and has had some info from our head office but is waiting for the final figures, which i thought at first was odd but now this ties in with what you have explained about the chancellors annual budget report.
i thought my mates were just winding me up at first but now it looks like the tax man will be taking a bit more of my hard earnt dollars.
can you get out of company vehicle tax when you take the vehicle home every day?
i have heard that travel to your first job and travelling home from your last is classed as private milage by the tax man but once again nothing concrete just friends talking.
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16-12-2005, 08:03 PM #4
Re: New Tax Law On Vans
Originally Posted by evaporator
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16-12-2005, 08:19 PM #5
Re: New Tax Law On Vans
can you get out of company vehicle tax when you take the vehicle home every day?
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16-12-2005, 08:29 PM #6
Re: New Tax Law On Vans
Originally Posted by Andy W
i will have to mension pool vehicles to my boss as i am home based and nearest depot is over an hour in the wrong direction to which i work
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16-12-2005, 08:31 PM #7
Re: New Tax Law On Vans
Originally Posted by frank
is that the loophole i am looking for just need to be listed as on call each day
i shall be looking into that one cheers
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