Good information, are older Volkswagen Transporter T4, T5 panel vans with 3 front seats but have windows in the back and retro fitted 2 seats in the back still classed as VANS? V5 also shows classification as N1... How do HMRC see this?
When you enter the details on the form you tell them the vehicle that you have which then helps them to see what vehicle type it is if they wish to query it. I cannot comment on specific vehicles however the best place to ask these things is the dealers who generally know. Also HMRC has specific guidance here: www.gov.uk/guidance/cars-and-vans-available-for-private-use-when-a-benefit-charge-is-incurred-480-chapter-11#definitions-of-car-and-van
Hey, sorry new apprentice here. Just been issued a company van. So most I would be paying would be around 900 a year if I’m in the 20% tax bracket for both fuel and the van? Cheers also would driving too and from work be business or personal travel.
Great video and very detailed. What can you claim as a sole trader making less than £50k profit on a used van? I've read on one site that you can claim 100% of the value, but on another site, you can only claim 19% of the value? Any info is much appreciated. Thanks in advance. Ashley
19% would suggest it is talking about corporate taxes rather than sole trader. I would recommend speaking to your accountant who can guide you through the right process that it tailored to your business.
@@kimberleyshapcottpropertytax He just wanted a plain and simple answer, yes or no!!!!!! Can he use the £10,000 purchase of a van as an expense against his income of less than 50k
@@jeremykemp3782 Sheeesh dude... settle down. Firstly, she's putting these great videos out for free, and defo doesn't owe anyone any free personal advice extra to the detail she's outlined in this one. Also, I can bet she'd need more info to be able to advise this fella as well as he might want, so that would need a sit-down chat or longer phone conversation - with an accountant... that deserves to have their time paid for.
Good information, are older Volkswagen Transporter T4, T5 panel vans with 3 front seats but have windows in the back and retro fitted 2 seats in the back still classed as VANS? V5 also shows classification as N1... How do HMRC see this?
When you enter the details on the form you tell them the vehicle that you have which then helps them to see what vehicle type it is if they wish to query it.
I cannot comment on specific vehicles however the best place to ask these things is the dealers who generally know. Also HMRC has specific guidance here: www.gov.uk/guidance/cars-and-vans-available-for-private-use-when-a-benefit-charge-is-incurred-480-chapter-11#definitions-of-car-and-van
Hey, sorry new apprentice here. Just been issued a company van. So most I would be paying would be around 900 a year if I’m in the 20% tax bracket for both fuel and the van? Cheers also would driving too and from work be business or personal travel.
It is definitely quite a cheap benefit to have.
Driving from home to work is personal travel and cannot be claimed.
Great video and very detailed. What can you claim as a sole trader making less than £50k profit on a used van? I've read on one site that you can claim 100% of the value, but on another site, you can only claim 19% of the value? Any info is much appreciated. Thanks in advance.
Ashley
19% would suggest it is talking about corporate taxes rather than sole trader. I would recommend speaking to your accountant who can guide you through the right process that it tailored to your business.
@@kimberleyshapcottpropertytax
He just wanted a plain and simple answer, yes or no!!!!!! Can he use the £10,000 purchase of a van as an expense against his income of less than 50k
Thanks for your reply, but it hasn't really helped. I'm only just setting up as a sole trader, and I don't use an accountant currently. Thanks
@@jeremykemp3782
Sheeesh dude... settle down.
Firstly, she's putting these great videos out for free, and defo doesn't owe anyone any free personal advice extra to the detail she's outlined in this one.
Also, I can bet she'd need more info to be able to advise this fella as well as he might want, so that would need a sit-down chat or longer phone conversation - with an accountant... that deserves to have their time paid for.