The current van benefit, car fuel and van fuel benefit cash equivalents stand at £3,230, £22,600 and £610 respectively.
From 6 April 2018, there will be an increase in all three of the benefits listed. The changes will result in a cash equivalent of £3,350 for privately used vans, a £23,400 multiplier for calculating the car fuel benefit and a flat rate charge for the van fuel benefit of £633.
The burden of these changes will fall on the individuals using their company provided cars and vans for private use. The increase in benefit will mean the individual will be liable to pay a higher tax charge on this benefit.