tax implications of taking work van home?
Discussion
If your private use of the van is NOT incidental, then you will be subject to a Benefit in Kind charge.
Unlike with ordinary motor cars, the Benefit in Kind charge on a van is a flat £3,500. If you are a basic rate taxpayer, this will result in you paying £700 tax on the van each year.
If you pay tax at 40% then the tax bill will be £1,400.
If you pay tax at 45% the bill will be £1,575
Also, unlike with ordinary motor cars, the home to work journey is NOT looked on as a private journey.
Unlike with ordinary motor cars, the Benefit in Kind charge on a van is a flat £3,500. If you are a basic rate taxpayer, this will result in you paying £700 tax on the van each year.
If you pay tax at 40% then the tax bill will be £1,400.
If you pay tax at 45% the bill will be £1,575
Also, unlike with ordinary motor cars, the home to work journey is NOT looked on as a private journey.
Did you not read what I said?
You will NOT be taxed if you take the van home.
UNLIKE with ordinary cars, the home to work journey is NOT looked on as a private journey.
And, as I also said, you can even use the van for the occasional non work related journey - like a visit to the local dump or helping a mate move some furniture - and you STILL won't be taxed.
You will NOT be taxed if you take the van home.
UNLIKE with ordinary cars, the home to work journey is NOT looked on as a private journey.
And, as I also said, you can even use the van for the occasional non work related journey - like a visit to the local dump or helping a mate move some furniture - and you STILL won't be taxed.
Agreed with Eric_Mc.
Had this same issue at my old work. After many arguments with them saying I had to pay tax on it and speaking with HMRC.
It is indeed try that asking as it travelling to and from work there is indeed no tax to pay regardless whether you have the fuel paid for or not. You are also able to use it occasionally for personnel reasons. I think the examples they gave were taking a mattress to the dump.
Had this same issue at my old work. After many arguments with them saying I had to pay tax on it and speaking with HMRC.
It is indeed try that asking as it travelling to and from work there is indeed no tax to pay regardless whether you have the fuel paid for or not. You are also able to use it occasionally for personnel reasons. I think the examples they gave were taking a mattress to the dump.
I think there is a planning issue involved with this - I vaguely remember that businesses must provide sufficient parking for their own vehicles, although this may only refer to HGV operators (as that was the context of the conversation).
(Not that this would affect you or your original question in any way!)
(Not that this would affect you or your original question in any way!)
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