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PRO INSTALLER NOVEMBER 2015
PRO MOTORING
@proinstaller1
HMRC planning to introduce
a company car-style personal
taxation system for vans
Although it has yet to
be confirmed, rumours
are swirling that the
Government is considering such a measure in
order to generate revenue from businesses
and drivers operating
such vehicles and also
using them for personal journeys. Currently,
lower rate taxpayers
pay 20% of the van benefit tax figure of £3150
while higher rate users
are liable for 40%.
James Davis, director of
commercial vehicles at
remarketing firm Manheim,
commented: “HMRC is
looking at ‘lifestyle vans’,
as I call them. What they’re
saying is any [van] that has
a spec similar to an executive car; they are going to
look at the benefit-in-kind
payment, which is currently
different for a commercial
vehicle than it is for a car.”
One LCV manufacturer
that wished to remain anonymous admitted that the
issue was “on the industry’s
radar.”
HMRC neither confirmed
nor denied the rumours
but the HM Treasury would
ultimately be responsible for
such a policy. A spokesperson for the Treasury said:
“We keep all taxes under
review.”
‘there could
be a knockon effect on
residual values’
Industry specialists warned
that the introduction of such
a policy would result in the
aftermarket conversion industry going “underground”,
fitting luxury equipment to
vehicles after the initial sale
in order to avoid the tax.
It could lead to those who
want luxury equipment to
buy a standard van then go
to aftermarket converters to
get around the tax.
The conversion market will
go underground because
people will still want those
vehicles, so they’ll buy a
basic van and have the work
done themselves - and you’re
seeing a lot of that now anyway. They also claimed there
could be a knock-on effect
on residual values and that
manufacturers would likely
resort to selling basic vans.
Source: Business Car –
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