Fleet News

Lex launches tax-free service to company car drivers

LEX Vehicle Leasing has launched a new service to offer benefit-in-kind tax-free motoring to drivers of 18,000 of its vehicles who face higher tax bills under the new carbon dioxide-based regime.

The scheme, called fLEX, is part of a new structured personal leasing service to be launched next month, YourChoice.

Under the new system, companies signing up to YourChoice can switch staff from their current contract hire arrangement, into a personal leasing scheme, without incurring any early termination penalty.

As a YourChoice customer, drivers will have insurance, no-recharge maintenance and car finance included in their monthly payments, but because the outstanding debt for the car has passed to them, rather than the company, they will not pay benefit-in-kind tax.

Marketing director Steve Hornsey said: 'Since October, we have been piloting the product with a number of existing customers and their response has been fantastic.'

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee