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Van tax hits business owners

Jul 15 2010

The amount of tax paid by drivers of company vans has quadrupled in just two years.

HM Revenue & Customs clawed £40 million in tax from drivers of company vans as part of its crackdown on job perks, compared to just £10 million in 2006/07, say official figures.

Accountancy firm UHY Hacker Young, saysthe rise in tax collected from van drivers follows changes to the rules on job perks introduced in April 2007 designed to increase the tax on the personal use of company vans.

Roy Maugham, tax partner at UHY Hacker Young, says: ‘This tax increase has had a huge impact on small businesses, many of whom have been struggling with rising costs during the recession. Vans are an essential tool for many small traders and this tax hike has come at a time when other costs, such as fuel, have also risen sharply.’

The news follows the government's intention not to raise raise taxes on fuel in the recent Budget.

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