Budget 2004: Company Van Taxation Deregulated

• Author:
• Fleet News Online

The Government has announced a 'major' deregulation of company van taxation.

Under the current rules, the benefit charge payable for a van available to an employee for private use is £500 (or £350 for a van that is four or more years old at the end of the tax year), a law that has been in place and unchanged since 1993. The charge also includes any private fuel provided.

The change announced today sees scale charges based on the type of private use introduced with a new charge for employe... (146 more words)

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