Fleet News

Swan believes scheme will be shortlived

SWAN National, which became the first company to launch a personal contract motoring scheme, has become the latest company to claim that the Whitechapel Corporate Services 'personal leasing' scheme could be shortlived.

Swan, while congratulating Whitechapel on the scheme's innovation, said: 'If the Inland Revenue regards it as the exploitation of a tax loophole, then it is almost certain to act against it.'

The company believes it is highly unlikely the Inland Revenue would forfeit around £1.35 billion it collects in company car tax annually - although in some quarters it is believed much of that could be recouped through income tax and NIC due on employees' allowances.

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