Double Cab Pick Up Tax Changes 2024. HMRC change benefit in kind classifications for double cab pickups. Ormerod Rutter The changes were due to take affect from 1 July 2024. The interpretation of double-cab pickups has been one of the biggest tax stories of the year and will likely be referenced across the many tax sessions to be held at the Festival of Accounting & Bookkeeping on 12-13 March 2025, where readers can book their free tickets to attend.
Impact of HMRC Double Cab Pickup Truck Tax Changes in 2024 from crawfordsgroup.co.uk
The government says the existing capital allowances treatment will apply to double-cab pick-ups purchased before April 2025, while transitional benefit in kind arrangements will apply for employers that have purchased, leased, or ordered a double-cab pick-up before 6 April 2025 Following the government's Autumn Budget 2024 announcements, HMRC has published new guidance regarding a change in the interpretation of how double-cab pickup (DCPU) vehicles should be classified for car benefit purposes
Impact of HMRC Double Cab Pickup Truck Tax Changes in 2024
This will change the tax position for any employee first provided with a DCPU after 5 April 2025. As this was leased before 6 April 2025, the previous rules continue to apply for Employer B until the earlier of the lease. The government says the existing capital allowances treatment will apply to double-cab pick-ups purchased before April 2025, while transitional benefit in kind arrangements will apply for employers that have purchased, leased, or ordered a double-cab pick-up before 6 April 2025
How to prepare for the double cab pickups tax changes. In the Autumn Budget 2024, released on 30 th October 2024, HMRC introduced a change in the legislature regarding the tax treatment of double cab pick-ups The UK Autumn Budget 2024 introduced significant tax changes for double-cab pickup trucks, a popular choice for both business and personal use
Changes to Double Cab Pickup Truck Tax from April 2025 Commercial Vehicle Contracts. From April 2025, these vehicles will be taxed as cars instead of commercial vehicles On 12 February 2024, HM Revenue & Customs (HMRC) announced new guidance on how double cab pickup trucks were to be classified, resulting in most vehicles being classified as a car rather than a van