HMRC U-turn: brakes put on changes to tax treatment of double cab pickup trucks

The announcement by HMRC on Monday 12 February that they were going to be changing how double cab pickup trucks were treated for Benefit in Kind (BIK) and Capital Allowance tax purposes generated a significant amount of negative comment and worry, as it would have potentially meant significantly increased tax liabilities for companies, business owners and employees.

Happily though, HMRC and the Treasury have listened to the views of tax professionals and strong representation from farmers and the motoring industry on the potential negative impacts of this policy change, and as a result have decided to U-turn on it.

On Monday 19 February HMRC and the Treasury announced that the rules would not change, and double cab pickups with a payload capacity of at least 1 tonne will continue to be treated as goods vehicles rather than cars for BIK and capital allowances purposes.

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Posted in News, Newswire.