URGENT UPDATE: DOUBLE CAB PICK-UPS – HM REVENUE & CUSTOMS (HMRC) CLIMB DOWN?
February 2024
In our newsletter yesterday, we set out the HMRC’s unwelcome proposed changes to the benefit in kind taxation of double cab pick-up trucks.
Today, it has been announced the Government has expressed concern at the changes and as a result, these have now all been withdrawn by HMRC. The Government has announced they will be introducing legislation to make the tax position clear and while this is welcomed, the details will need to be reviewed to see if any changes are made.
Further details can be seen here: https://www.gov.uk/government/news/update-on-hmrc-double-cab-pick-up-guidance