The pickup shows great potential as the new company car.
Most pickups are light commercial vehicles (LCV’s) so they are taxed differently to conventional company cars. To make things simple, benefit-in-kind (BIK) is set at a flat rate irrespective of CO2 emissions or price.
BIK for pickups is fixed at £3,350 for the 2018/2019 tax year. So, if you pay tax at 20% that’s just £670 a year or £55.83 a month. For a 40% tax payer it works out at £1,340 for the year or £111.67 a month. So, when you consider that very few company cars will cost a 20% taxpayer £50 a month, you identify a real potential to make some serious savings.
As well as the vehicle, drivers also have an opportunity to save on fuel. Company car drivers are taxed on private-use fuel that’s paid for by the employer, and again pickups can bring big savings here. The 2019/2019 taxable benefit amount is £633 – and you’ll be taxed at 20% or 40% of that, depending on your banding.
Again, this differs from conventional company cars, which have a rate set at £22,600 for the 2018/19 tax year and then multiplied by the car's BIK tax percentage and your own salary tax band – the same way company car tax is calculated.
With all of that factored in, often, the pickup is the cheaper option.
The X-class is available at Rossetts and we currently offer 48 hour test drives so customers can really experience the quality of the vehicle.