Beat BIK Before April!
Act Now: Lock in Lower Taxable Benefit Rates on Ford Ranger and Toyota Hilux Double Cabs Before April 2025
Recent changes in HMRC guidance will see double-cab pick-ups classified as cars for benefit-in-kind (BIK) purposes from 6th April 2025. This shift could significantly increase the cost of ownership for company vehicle drivers.
Currently all pick-ups are subject to a fixed benefit of £3,960.
A Ford Ranger, with a list price of circa £48,000 and CO2 emissions of more than 170g/km, would be in the 37% bracket meaning BIK of around £17,700 a year, leading to employee tax of £7,110 a year for a 40% taxpayer or £3,550 a year for a 20% taxpayer.*
However, there’s a way to secure lower costs before the change. By ordering a new Ford Ranger or new Toyota Hilux double-cab pick-up from CPD VanDemand before 6th April 2025, you can lock in the current van taxable benefit rates. These rates will apply until your vehicle is disposed of, the lease ends, or 5th April 2029, whichever comes first.
This gives you the chance to save on taxes and keep your business vehicle costs lower for years to come.
Why It Matters
From 6th April 2025, double-cab pick-ups will be classified as cars for tax purposes, meaning they will be subject to higher BIK rates. This change could have a significant impact on the total running costs for both business owners and company car drivers. Ordering your new vehicle now can help you avoid these higher costs and ensure your vehicle remains a cost-effective solution for your business needs.
How to Take Advantage of This Opportunity
Order your Ford Ranger or Toyota Hilux double-cab pick-up today from CPD VanDemand to lock in the lower, van-based taxable benefit rates.
CPD VanDemand, offer a range of tailored vehicle solutions, including the Ford Ranger and Toyota Hilux, to meet your specific business needs. Get in touch with us today to explore your options and secure your vehicle before the deadline.
Lock in Savings Before 6th April – Avoid the Tax, Beat the BIK
*Source Fleet News
