A summary of the Spring Statement 2025 and the main changes that come into effect from April 2025 and beyond. The changes were announced well ahead of the Spring Budget.
Spring Statement Summary 2025
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Benefit In Kind
Benefit In Kind
Company Car v Van – the tax difference
Company cars and vans, when used privately by employees are treated differently for tax purposes, with vans generally treated more favourably than cars. We look at the grey area of multipurpose vehicles.
Covid impact on company car benefit
What is the position for the Benefit in Kind (BIK) on a company car whilst an employee is working from home or has been furloughed?
HMRC’s definition of a car
The difference between a company car and a van is not just aesthetic or practical, it has an impact on your tax bill.
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