Manage Private Usage

In April 2007, the new Benefits In Kind (BIK) van charge came into operation. This new charge has significant implications for both employers and employees. Are you up to date ?

Here’s what it all means:

Taxable benefit on company vans subject to private use jumped from £500 to £3000 per annum from April 2007 ( £3500 where private fuel is included ).
The onus is on you – the employer is responsible for proving what tax has to be paid. Simply banning private use isn’t enough – the new tax applies unless you provide adequate proof that private use is excluded.
The BIK Van Change doesn’t just impact on your employees – your business will pay an extra £448 each year for every driver in increased Class 1A National Insurance contributions.

Fleet Asset has the answer – tailored to meet your needs.

The only realistic solution is vehicle tracking – logging the how, when and where of each vehicle’s day.
Our Simply Trak Fleet Management solution includes a business / private mileage option that ticks all the boxes for BIK van charge compliance.
We can even offer unique driver IDs, allowing tracking of different drivers in different vehicles.

Talk to us NOW! – you won’t believe what our system can do.   

You can download the form needed to file your benefit in kind van charges below: