LeasePlan UK has analysed the twin impacts of the pre-election budget and the post-election emergency budget in a new guide on company car taxation, launched today.
The guide, compiled in association with Deloitte, provides a detailed analysis of this year’s budget announcements, including: the accelerated 3% rise in the C02 thresholds for company car tax announced for 2019/20 tax years; and the reduction in the rates of corporation tax from 21% to 20%, to 19% in 2017 and to 18% in 2020.
The report, Company Car Taxation: Your Guide for 2015, also explains related considerations, including the impact of VAT on company cars, the importance of vehicle excise duty and various tax relief calculations.
In addition, it includes worked examples to demonstrate how the evolution of tax policy can affect overall fleet costs and examines how relevant individual elements of fleet policy are affected by the chancellor’s changes.
Matt Dyer, managing director of LeasePlan UK, said: “Navigating the UK’s changing tax environment has always been a priority for fleet decision makers, and the changes announced in the last few months mean a recalibration of this knowledge is required.
“Now, the ability to react quickly and effectively to adjust to the demands of this new regime can make a huge difference in potential fleet savings.
“This annual LeasePlan taxation report has become a crucial tool for many customers and it showcases the expertise of our sector-leading consultancy team. I’m delighted to be able to share this element of our client service offering with the wider world.”
The full guide can be downloaded by clicking here.