Tribunal reclassification should mean extra NI for company and BIK for drivers.
Newly-released data from TMC highlights worryingly-high fuel consumption and emissions in real-world driving for hybrid vehicles.
Drivers’ ignorance of benefit in kind tax charges is proving a boost to the taxman.
Drivers may be paying too little BIK tax and avoiding congestion charges as a result.
The number of employees paying company car tax has reached a five-year high, boosting Treasury coffers by millions of pounds, newly-released data shows.
New benefit-in-kind (BIK) tax rates for ultra-low emission vehicles, due to take effect from 2020, have been dropped from the Finance Bill.
Cooper Solutions has audited HMRC’s Averaging Agreement for company car drivers and found three-quarters of dealership employees overpay company car tax.
The bill also includes new benefit-in-kind (BIK) tax bands for 2020/21.
Significant changes to BIK tax bands coming in over the next four years, requires fleet managers to make careful vehicle selections, warns Venson.
The possibility of the company car being labelled ‘outmoded’ and only being provided to essential users was put forward by one fleet decision maker at the March 2017 Fleet200 breakfast meeting.
Treasury seeks coordinated approach to phase out NEDC readings and replace with WLTP test results.
New BIK rates, which will see the tax paid by employers and employees fall dramatically for the cleanest cars from 2020, have been labelled “ludicrous”.
BVRLA and ACFO welcome changes to company car tax bands announced in the autumn statement, but there are concerns about Government changes to salary sacrifice.
The fleet industry has won a partial reprieve on salary sacrifice, with ultra-low emission vehicles excluded from changes announced in the autumn statement.
The Government should reveal company car benefit-in-kind tax rates on ultra-low emission vehicles (ULEVs) until 2028/29 to enable long-term fleet planning, according to ACFO.
Industry roundtable delegates fear policy changes may result in return to buying older cars with higher CO2 emissions.
Company cars have been ‘caught in the crossfire’ of a Government crackdown on salary sacrifice, according to a major supplier of the workplace benefit.
The Government has issued consultations on salary sacrifice schemes, lease accounting and company car tax treatment of ultra-low emission vehicles (ULEVs).
The number of employees paying company car tax has increased for the first time in 10 years, newly-released figures suggest.
Company car taxes are rising across Europe, with more countries applying CO2-based taxes on company cars, putting pressure on total cost of ownership.
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