Company vans

A company van is the most tax efficient vehicle. The purchase VAT can be reclaimed and there is no private fuel benefit to the driver.

Up to 5th April 2007 there is no taxable benefit, even if the vans are taken home, provided that there is no private use. If there is private use then the benefit is £500 but this is reduced to £350 is the van is over 4 years old.

From 6th April 2007, the van benefit goes up to £3,000 with a fuel benefit of £500 where fuel is also provided for private use.

If you would like to know more about these tax savings please contact David Cane on 020 8390 6878.