UK - Company vans will be far more attractive to employers and employees after the government deregulates the tax rules governing them, accounting giant PricewaterhouseCoopers says.
Staff who use company vans are taxed £500 per annum for a vehicle that is less than four years old and £350 for older vehicles. The charges will be scrapped from next April.
At the same time, employers will benefit from an equivalent reduction in their National Insurance liabilities. However, the government has warned that employees will be taxed if they derive “real private benefit” from having a company van.
PwC employment tax director Bill Kirwan said: “This is a welcome initiative for organisations with a largely mobile fleet.
“This tax respite is also applicable for emergency service workers who are required to take their company van home when ‘on call’.”
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