Tax and travel – Company vans

The taxable benefit for the unrestricted private use of vans is £3,430 for 2019/20. There is a further £655 taxable benefit if the employer provides fuel for private travel.

Van and fuel charge Van £ Fuel £ Total £
Tax (20% taxpayer) 686.00 131.00 817.00
Tax (40% taxpayer) 1,372.00 262.00 1,634.00
Tax (45% taxpayer) 1,543.50 294.75 1,838.25
Employer’s Class 1A NICs 473.34 90.39 563.73

There is a benefit charge for zero emission vans but there is no fuel benefit for such vans.

Our experts at Beavis Morgan can ensure your tax affairs are as efficient as possible to fit your circumstances. In addition, we can look ahead to retirement and inheritance tax planning.

For more information and to discuss your tax affairs in further detail, contact your usual Beavis Morgan Partner.