Hendy Group is encouraging local businesses and fleet operators considering the purchase or lease of a double-cab pick-up to act fast before the significant increase in Benefit-In-Kind (BIK) charges takes effect on 6 April.
In the 2024 Autumn Budget, HMRC announced that double cab pick-ups with a payload over one tonne will be treated the same as company cars from 1 April 2025 for corporation tax purposes and from 6 April 2025 for income tax purposes.
A notable example of a vehicle that will be caught under the new arrangements is the Ford Ranger, the UK’s most popular double cab pick-up, which currently incurs a fixed BIK rate of £3,960 per year. When the new tax rules come into force next month, these costs will rise to £4,400 for lower rate taxpayers (20%) and £8,880 for higher rate taxpayers (40%).
Hendy Group, which has locations across the south of England, has secured additional supplies of the Ranger to meet an anticipated sharp uplift in demand before the new BIK rules kick in.
Any company that places an order for a double-cab pick-up before 6 April can benefit from transitional BIK arrangements, which will allow them to continue with existing BIK terms until 5 April 2029. BIK calculations are based on the P11D value*, CO2 emissions and the employee’s tax band. It only applies if an employee also uses the vehicle privately, as many users do.
Across Hendy’s network, 18 outlets sell and service a wide range of new and used commercial vehicles from Ford, Renault, Nissan, Vauxhall, Land Rover, and IVECO.
Hendy’s BIK campaign will run throughout March and will be profiled through Hendy’s website and social media channels.
David Graham, Head of LCV Sales at Hendy, commented: “This campaign highlights our commitment to the commercial vehicle sector, ensuring current and prospective customers can keep their ownership costs as low as possible. We recognise the financial constraints everyone is under and hope to raise awareness of the tax increases so businesses can act accordingly.”
Hendy has operated in the south of England for over 165 years and currently represents over 22 automotive brands at numerous locations across the south coast.
To find out more about commercial vehicles at Hendy, including special offers on the Ford Ranger, visit your local dealership or the Hendy website:https://www.hendy.co.uk/transit-centre/offers/new-van/all-new-ranger/
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