It’s not just the manufacturers new attitude to interiors of the 4×4 Double Cab Pick Ups that’s making them attractive, there are some serious Tax Benefits too for the company vehicle driver.
In the last few years the 4×4 Pick Ups have entered a revolution becoming tougher and more robust but more importantly manufacturers have ramped up the insides making them more luxurious. Recognising that a need to go off road onto work sites, have a bit of towing grunt and be reliable shouldn’t have to compromise on comfort has seen some high spec trucks hit the markets. Ok the manufacturers haven’t lost their marbles, farmer Giles can still get his basic workhorse to fill with pigs and muck but now the humble 4×4 truck is turning the executive car drivers heads.
The usual companies are leading the trend Toyota’s Hilux, Isuzu’s D-Max, Ford’s Ranger, Mitsubishi’s L200 and the Nissan’s Navara have been around for what seems like centuries, in recent years we have seen the VW Amok, but now there are some new kids on block with Fiat’s Fullback, the Mercedes X Cross and Renault’s Alaskan all due to be released in 2017 to take a slice of the cake and cash in on the current and growing demand.
So is it just the ability to get home on a winters evening that’s fuelling the demand, we’ve all seen and smiled at those executive BMW car’s stuck at the bottom of the motorway slip road as we’ve driven past in a bit of snow and in fairness this is the only time the more ‘traditional’ 4×4 driver does pass them on a motorway. No the savvy business and executive driver has cottoned on to the tax benefits available. HMRC has declared any double cab pick up with a payload (cargo ability) of at least one tonne is now classified as a Light Commercial Vehicle (LCV) the same as a Single Cab Pick Up because they have no ‘non business’ benefit to their drivers. This now means VAT registered purchasers can claim back the VAT and companies can write off the cost against their Capital Gains quicker because a LCV is classed as ‘plant and machinery’.
Even the employees receive more favourable rates for driving them due to HMRC’s ‘Benefits-in-Kind’ (BIK) which covers the charge for personal use of the company vehicle. The Double Cab Pick Up has a fixed low BIK rate unlike a company car that is charged based on the book value and CO2 rating.
So basically HMRC believe you wouldn’t want to drive that Double Cab ‘Machine’ at the weekend or be seen in a month of Sundays stashing the family and camping gear, shopping or kids bikes in the ample load bed. SShhhh, don’t tell them any different, but do enjoy those comfy seats, mod cons and extra money in your wage packet.