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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 |
