In a bid to encourage investment and capital expenditure the chancellor announced during the 2021 Spring budget a welcome tax break for companies investing in qualifying plant & machinery.

As of March 1st, 2021 HMRC, are introducing the Domestic Reverse Charge on the construction Industry for VAT having failed to implement the arrangement in October 2019 & October 2020.

So, you want to buy a van huh? This summary briefly looks at some of the tax implications of purchasing a van through a limited company (i.e. the company will legally own the vehicle).