Double-cab pick-ups now classified as vans for Capital Allowances.
September 22nd, 2009
Until recently, the Taxman treated double-cab pick-ups as cars for capital allowances purposes. This has now changed so that a van which has a payload of one tonne (1,000kg) or more will be classified as a van. This brings it into line with how the Taxman treated it for employee benefit-in-kind and VAT.
The effect will be to allow 100% capital allowances in the year of purchase. The re-definition applies retrospectively to April 2008 so if you have purchased a double-cab pick-up since then, you can claim full tax relief for it. If you have already submitted a claim, you are entitled to amend it.
The content of this article is for general information only. It should not be relied on and action which could affect your business or personal circumstances should not be taken without appropriate professional advice.
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