"Alan and his team at Thomson Cooper have been invaluable to Links Business Solutions. Their support and advice has been very welcome. Myself and our staff, never find it a problem to pick up the phone or write a quick email to Alan and his team. Exactly the accountancy support we have needed! Thanks!"
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Company vans
The taxable benefit for the unrestricted use of company vans will be £3,000 (with no reduction for older vans) plus a further £500 of taxable benefit if fuel is provided by the employer for private travel.
The maximum tax payable on the use of a company van is £1,400 p.a., and the employer's Class1A NIC payable is £448 p.a.
| Van and fuel charge | 2008/09 | 2007/08 |
| Van more than four years old | ||
| Tax (20% taxpayer) | £700 | £770 |
| Tax (40% taxpayer) | £1,400 | £1,400 |
| Employer’s class 1A NICs | £448 | £448 |
Employer provided vans: fuel benefit rules
Legislation in the 2008 Finance Bill will ensure that reimbursement of private fuel costs for vans will not be treated as earnings for tax purposes. The same rules will have effect for the provision of van fuel for private use as those that currently have effect for company car fuel.
