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