Major pick-up truck tax changes introduced to close loophole
Dual-purpose vehicles will now be considered cars for company taxation purposes
The government has announced a major change to the taxation for double cab pick-up trucks that will see them classed as cars from July.
Double-cab pick-ups have grown significantly in popularity in recent years as their dual-purpose attributes have meant they’re suitable for being a working vehicle as well as for personal use. Many have also chosen them for the tax breaks they offer, as any double cab that had a payload of more than a tonne was considered a van, and therefore attracted far cheaper company car tax.
However, HM Revenue and Customs (HMRC) quietly announced yesterday (February 12) in a note that this will change from July 1, 2024, saying that it will ‘no longer interpret the legislation that defines car and van for tax purposes in line with the definitions used for VAT purposes’.
