Significant Tax Changes for Double Cab Pick-Ups: Order Your New D-Max from Compass Automotive Before April 6th, 2025!
Significant Tax Changes for Double Cab Pick-Ups: Order Your New D-Max from Compass Automotive Before April 6th, 2025!
With new HMRC legislation on the horizon, now's the time to secure your double cab pick-up before tax costs rise. Compass Automotive is here to help you make the most of the current tax rules—act fast and save big!
What's Changing?
Under the Autumn Budget 2024, double cab pick-ups will no longer be classified as commercial vehicles for Benefit in Kind (BIK) and Capital Allowances (CA) from April 2025. Instead, they will be treated as cars, leading to increased tax liabilities for buyers and businesses.
Key Impacts:
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Benefit in Kind (BIK):
- From 6th April 2025, BIK will shift from a flat rate of £3,960 to a variable rate based on CO2 emissions.
- This means higher tax costs for higher-emission vehicles, aligning them with passenger car taxation.
-
Capital Allowances (CA):
- As of 1st April 2025, double cab pick-ups won’t qualify as ‘plant and machinery’ for CA, impacting tax relief claims.
-
Transitional Protection:
- Vehicles purchased or ordered before the cut-off dates will maintain their commercial classification until the earlier of disposal, lease expiry, or 5th April 2029.
Why Act Now?
- Avoid Higher BIK Costs: Lock in the current flat-rate BIK charge before it switches to CO2-based rates.
- Favourable Capital Allowances: Benefit from existing CA rules offering better tax deductions for commercial vehicles.
- Extended Tax Relief: Secure transitional protection until at least April 2029.
Order Your New D-Max from Compass Automotive Today!
Don’t miss out on the tax savings. Order your new D-Max from Compass Automotive before 6th April 2025.
Contact Sean Pearce at Compass Automotive:
📞 01278 662836
📧 sean@compassautomotive.co.uk
Compass Automotive—Helping You Maximize Your Savings!