Company Vans
From 6 April 2007 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 |
2007/08 |
2006/07 |
| Van more than four years old |
| Tax (22% taxpayer) |
£770 |
£77 |
| Tax (40% taxpayer) |
£1,400 |
£140 |
| Employer’s class 1A NICs |
£448 |
£44.80 |
| Van less than four years old |
| Tax (22% taxpayer) |
£770 |
£110 |
| Tax (40% taxpayer) |
£1,400 |
£200 |
| Employer’s Class 1A NIC |
£448 |
£64 |
