Legislation - Page 23

The Society of Motor Manufacturers and Traders (SMMT) has welcomed the publication of the Government's Digital Radio Action Plan.

Many fleets are facing further lease costs following the VAT rise. They are now liable for more VAT when leasing companies come to sell cars that are currently with fleets than they reclaimed when they first purchased them.

Fleets should think twice before trying to beat higher 20% VAT rate, which comes into force on January 4, 2011, by speeding up new vehicles ordering.

HM Revenue & Customs (HMRC) announced last year that from April 2009 employers no longer had to submit form P46

In the light of current economic uncertainty, this Budget has to balance the urgent need to reduce the deficit with adequate measures to sustain growth.

The BVRLA has advised Chancellor George Osborne to abolish the tax disc and allow the purchase of multi-year Vehicle Excise Duty.

The Revenue men were in at BVRLA last month (May 28) to debate how to avoid having to fall in line with European regulations on company car benefit taxes.

The high levels of risk associated with buying part worn tyres has been revealed by Birmingham City Council after its trading standards officers examined a selection of part worn tyres being sold in the city and found that nine out of ten failed to meet the minimum legal standards

Philip Hammond will effectively lead the country’s transport agenda after he was given the top ministerial position at the Department for Transport.

When a vehicle leasing company purchases a vehicle they can recover the VAT, which currently sits at 17.5%. At the back end however, they also have to account for VAT when they dispose of their vehicles, so what’s going to happen if VAT moves to 20% or more?

The former shadow treasury secretary and Conservative MP Philip Hammond has been appointed as the new transport secretary.

A poll of finance bosses has revealed that almost half don’t have a firm grasp of VAT-related company car costs.

Cybit has launched a new Tax & Expense Manager module for its Fleetstar-Online fleet tracking and vehicle telematics solution.

Transport businesses must take extra care that their systems for checking driving licences of people driving for work are “robust and enforced”.

An increasing number of Member States levy CO2-based taxation or incentivise electric vehicles.

Former Openreach senior fleet innovation and vehicle consultant Simon Tory has called on the next Government to take a long-term view on transport policy.

Three in every five drivers do not feel they are being given all the facts by their employer to help them save money when choosing a company vehicle.

HMRC has ruled out any review of its advisory fuel rate (AFRs) before the scheduled June 1 review, despite soaring pump prices hitting a new record high.

A poll of finance bosses, by YouGov for Lex Autolease, has revealed that almost half (43%) of UK firms don’t have a firm grasp of VAT-related company car costs.

The Fleet News company car tax calculator can help you put the real running costs of fleet vehicles in perspective.

April 2010 witnesses the most significant changes to vehicle tax since the CO2-based tax system was introduced in 2002. Fleets face a tightening of benefit-in-kind (BIK) tax bands, new VED levels, BIK tax-free electric vehicles and a new ‘showroom tax’.