Surge in sales of used double cabs after Xmas?

[richy_B]

What  do people  think - Will  there a  surge  in  the sales of  double  cab  pickups after Xmas as people  scrabble  to avoid the  tax  hike in  BIK? Or  will  a lot of people  ride it  out  for a  bit.

[swinny]

I missed this.... what's coming?

[richy_B]

Just now, swinny said:

I missed this.... what's coming?

Essentially  double cabs will be treated as  company cars for  tax  purposes  from April 25 meaning  potentially  high  tax  charges  for  employees/directors  using them.  

 

Double cab pick-ups to be treated as company cars

WWW.FLEETNEWS.CO.UK

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Transitional BIK arrangements will apply for employers that have purchased, leased, or ordered a double cab pick-up before April 6, 2025.

 

"A Ford Ranger, with a list price of circa £48,000 and CO2 emissions of more than 170g/km, would be in the 37% bracket meaning BIK of around £17,700 a year, leading to employee tax of £7,110 a year for a 40% taxpayer or £3,550 a year for a 20% taxpayer.  "

 

[swinny]

That's for a brand spanker then... how can it affect the older ones already in use?

[Ty Korrigan]

Does that include vehicles on a lease?

[Mick Dempsey]

So is this for the proper 4 door/4 seat pickup or the 2 mini seats in the back jobby as well?

[richy_B]

1 hour ago, swinny said:

That's for a brand spanker then... how can it affect the older ones already in use?

Unfortunately not - it'll include all double cab pickups regardless of purchase date. 

 

"From April 2025, for corporation tax, and from April 6, 2025 for, income tax, it says that double cab pick-ups will be treated as cars for the purposes of capital allowances, BIK and some deductions from business profits.

 

The existing capital allowances treatment will apply to those who purchase double cab pick-ups before April 2025. 

Transitional BIK arrangements will apply for employers that have purchased, leased, or ordered a double cab pick-up before April 6, 2025"

Edited November 9 by richy_B

[richy_B]

12 minutes ago, Mick Dempsey said:

So is this for the proper 4 door/4 seat pickup or the 2 mini seats in the back jobby as well?

I believe only 4 door versions. Single and king cabs seemed to be excluded. 

[Mick Dempsey]

I thought that had been the case for years.

Certainly has been over here.

[Mark Bolam]

I’ve never worked out why king cabs aren’t more popular.

They would tick far more boxes for me.