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Double cab pickups with a payload of 1 tonne or extra shall be classed as vehicles for profit in type and capital allowance functions, significantly rising the tax price of those autos.
That’s the view from tax professional Michelle Malone at accountancy and advisory agency Xeinadin.
“Dealers will remember the issues caused when a change in treatment was last proposed, including customers cancelling orders so this is again a tax measure that will present the industry with business challenges,” mentioned Malone.
In February the final authorities
to tax double cab pick-ups as vehicles made earlier this month.
On 12 February it introduced that from 1 July 2024, DCPUs with a payload of 1 tonne or extra could be handled as vehicles relatively than items autos for each capital allowances and benefit-in-kind functions.
HMRC then introduced that its current steerage shall be withdrawn, which means that DCPUs will proceed to be handled as items autos relatively than vehicles, and companies and people can proceed to learn from its historic tax therapy.
