20.2.24
HMRC announce a u-turn on the classification change we reported on last week.
So.. for now, double cab pickups will continue to be treated as goods vehicles rather than cars, and businesses and individuals can continue to benefit from its historic tax treatment.
The government will change the law at the next available Finance Bill.
We will be following this one closely. For now, if you would like to speak to one of our experts on how to plan for future changes, please get in touch.
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13.2.24
Are you planning to buy a double cab pickup truck for company use?
A recent update from HMRC announces that those purchased on or after 1 July 2024 will be treated as company cars for benefit-in-kind purposes.
The reason for this is that they are equally suited to carrying both passengers and goods. There is no overriding bias in their use as a vehicle for goods, and so the default classification will be that of a car.
Pickups ordered or leased before 1 July 2024 will continue to be treated as vans until 5 April 2028.
If you are unsure whether this will affect you, or have any further questions please contact us.