LeasePlan has launched a guide to company car taxation, which provides detailed analysis of this year’s Budget announcements.
The guide, which has been produced in partnership with Deloitte, covers:
- The newly announced company car tax thresholds up to the 2018/19 tax year
- The extension until March 2018 of the 100% first year allowances for zero emission goods vehicles and the reduced CO2 threshold of 75g/km applied to cars
- The reduction in the rates of corporation tax from 23% to 21% and, in future years to 20%
As well as explaining the latest changes in tax provisions, the report, 'Company Car Taxation: Your Guide', covers related considerations, including vehicle salary sacrifice, the management of cash allowances and employee ownership schemes.
The guide demonstrates that the stability currently afforded by company car-related legislation ensures costs remain relatively predictable, and it outlines a clear timeline of incoming changes.
LeasePlan has also found that previous changes which resulted in more significant cost rises are now better understood by the majority of businesses.
Matt Dyer (pictured), managing director of LeasePlan, said: “Understanding the impact of taxation on fleet costs remains a significant concern for fleet operators. While this year’s budget lacked the major changes seen in previous years, these are still exciting but challenging times for everyone involved in fleet policy design and delivery."
The full guide can be downloaded from the following link: http://www.easiertoleaseplan.co.uk/