Double cab pickup

[Shaunpaul]

Hi, if I buy a 64 plate Isuzu D max before the 1st April, is it exempt from the BIK tax until 2029? If the money and receipt are transferred before said date. My accountant is a little slow at responding so thought id pick some brains on here while it’s fast approaching. It will be from a private individual to a Ltd company.

 

Thanks all 👌

[chopperpete]

I thought it applied to brand new pick ups bought after the April 2025 date?

[chopperpete]

Maybe not...

 

Quote

 

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. 

The Treasury says that they will be able to use the previous treatment, until the earlier of disposal, lease expiry, or April 5, 2029.