Surge in sales of used double cabs after Xmas?

[richy_B]

1 hour ago, Dan Maynard said:

Apparently also VAT not reclaimable on a car, so the double cab is going to be an even more expensive option after that.

 

Looking around, it's been a subject for a while as HMRC tribunal ruled last year that vehicles with more seats are not primarily for carriage of goods.

 

I'm just going to have to keep my defender hard top going, which I obviously only use for tree work.

 

Car or van - What is a van for tax purposes? | PKF Smith Cooper

WWW.PKFSMITHCOOPER.COM

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When an employer provides their employees with company vehicles for private use, the tax treatment...

 

VAT not recoverable. 

 

I expect HMRC are going to be gunning for people for the first year to make some examples. 

 

It's difficult as industries like forestry/arb/construction/farming have legitimate reason for needing offroad and full towing capability. Its primarily directors of small business buying snazzy looking raptors or X class that's drawn all the attention in my opinion.

 

All on all small businesses have been hit the hard in this budget. 

[Stephen Blair]

The Raptors not commercial as it’s under 1000kg pay load in the back.  So it’s already classed as a car.  Should have seen my face when I found that out in the showroom a few years back! 🤔😂

 

 

[Mick Dempsey]

18 minutes ago, Stephen Blair said:

 

 

1 hour ago, richy_B said:

 

. It’s primarily directors of small business buying snazzy looking raptors or X class that's drawn all the attention in my opinion.

 

 

I had thought it more likely it’s because of builders get the VAT back and tax relief on 4 door 4 seat pickups that go straight to the wife as a family car.

Edited November 10 by Mick Dempsey

[openspaceman]

1 hour ago, Mick Dempsey said:

 

I had thought it more likely it’s because of builders get the VAT back and tax relief on 4 door 4 seat pickups that go straight to the wife as a family car.

My thought is it benefits any self employed or small business owner who is VAT registered. Many double cabs with full hard top and no tow hitch used as big estate cars round here.

[swinny]

5 hours ago, richy_B said:

This will apply to capital allowance so you cannot offset purchase against your £1m allowance.

 

The biggest issue is benefit in kind taxation (BIK). If you run a pickup at the moment you pay no extra personal tax. From april they will be treated like a Company car so you'll be paying £3-4k per annum (transitional rates for vehicles purchased before April 25).

 

It seems the vast majority of people are unaware if how big a hit this will be. Going to be some big shocks in April. 

So your saying that even a small company with a dc pickup in their fleet will now have to pay more tax as though it's a company car?

[richy_B]

1 hour ago, swinny said:

So your saying that even a small company with a dc pickup in their fleet will now have to pay more tax as though it's a company car?

Seemingly yes, anyone running a double cab pickups through a business will have to include it on their P11D.

[Pete Mctree]

This is worrying- I run 2 pickups, both double cabs. One dedicated to the business, the other probably used 3 days a week at work and also doubles as our car. Due to where I live, I don’t really have an option other than running 4x4’s.

In tandem with all the other cost increases, I am not sure how long running small businesses will be viable 

[richy_B]

5 minutes ago, Pete Mctree said:

This is worrying- I run 2 pickups, both double cabs. One dedicated to the business, the other probably used 3 days a week at work and also doubles as our car. Due to where I live, I don’t really have an option other than running 4x4’s.

In tandem with all the other cost increases, I am not sure how long running small businesses will be viable 

Yes, it's just another nail in the coffin for micro businesses.

[Just messing in the woods]

I'm guessing you are all using your work vehicles for private use then?

Edited November 10 by Just messing in the woods

[swinny]

1 hour ago, Just messing in the woods said:

I'm guessing you are all using your work vehicles for private use then?

Not really. The dc pick up is a jack of all trades master of bugger all. 

 

When you work 6 days a week 60-70hours doesn't leave much time for much. Also the Mrs can drive if we go out on Sundays 😆