IF you’ve ever fancied one of those great looking double cab pick ups but thought they were the preserve of builders and property developers, then have another think.
Because you could run a double cab pick up as a company car and pay a pittance in company car tax.
Huh? Really?
Tell me more.
OK, this is how it works. It’s a bit of a loophole really, but it’s down to how HMRC classifies double cab pick ups: essentially as a commercial vehicle.
Of course, double cabs can be workhorses as any farmer will no doubt tell you; but they can also be luxuriously decked out too in high specification mode, including leather seats.
So if you want to save on company car tax, then a double cab pick up could be one answer.
So how does double cab company car tax work then?
For the purposes of benefit in kind company car tax, a double cab pick up is classified as a van so long as it is:
- No more than 3500kg
- Has a payload of more than 1000kg (without hard top)