Low EV tax rates fuel salary sacrifice offers
Zero or very low benefit-in-kind tax rates on electric cars introduced by the government in April 2020 had almost certainly powered the majority of a dramatic increase in salary sacrifice schemes.
Company Car Tax Calculator
Choosing your next company car? Want to cut your CO2 emissions and know how much company car tax you’ll pay? Then use our Company Car Tax Calculator
Salary sacrifice and company cars
SALARY sacrifice is a formal agreement between employee and employer to sacrifice some salary for a new car. Salary sacrifice is sometimes used as an alternative to the provision of a company car. However, Chancellor Philip Hammond announced changes from April 2017 in the 2016 Autumn Statement. This reduces some of the previous tax and NIC advantages of salary sacrifice [...]
What is a pool car?
A POOL car is a company vehicle that’s available for use by one or more employees of that company. It can be a pool van, as well. It's called a pool car, because it is an asset that can be used by everyone in that organisation: 'pooled use'. However, HMRC is very keen to ensure that employees don’t use pool cars [...]
How to manage a company car programme
A company car scheme is run for varying reasons, but mostly because there are a number of employees who need to use a vehicle to carry out their business.
Taking a taxi into the world of vans
VN5 uses with the same reliable, hard-working construction as LEVC’s highly successful TX taxi with flexible zero emissions and a range of over 300 miles via LEVC’s innovative eCity electric technology. Impressively, VN5 can offer 60 miles pure electric range and a pure EV city range of 75 miles.
Changes to car tax – how will they affect you
While tax increases and changes in tax law are inevitable and even necessary, if not always welcome, it’s already been a difficult year for Britain’s motorists, and proposed tax changes are unlikely to make it any easier
TMC urges Treasury to scrap diesel BIK surcharge
TMC said such a move would reflect real-world cost constraints and restore badly-needed confidence to the UK’s hard-hit new car market.
Five fibs which could invalidate insurance
The consequences of withholding or giving false information to obtain cheaper car insurance can be severe. Far from saving money, being untruthful can be costly.
Is it a van or is it a car – the taxman decides
The distinction between a van and a car can have significant implications for tax particularly with respect to how they are treated for benefit in kind purposes – a van would generally have a lower benefit in kind charge than a car.
Coronavirus – effect on BiK, tax and salary sacrifice
Now could be an ideal time to review fleet policy to look at introducing a number of new, tax-efficient vehicles to choice lists for drivers to consider when we come out of lockdown.
New study highlights increased costs from WLTP and taxation
It's clear that some sectors are more affected by WLTP than others, which will undoubtedly drive a change in the shape of the UK car parc.
Lockdown – should you still be paying BiK tax?
Is it justifiable taxing people on a benefit when that benefit is not really available for use? That’s what is happening at the moment with company cars and vans that can’t be used except for essential travel.
Lower EV tax rates to increase chargepoint demand at work
Companies should look to install charging infrastructure and implement policies to manage demands and prevent conflicts.
Car tax and the Budget: A fuel tax hike needs to go hand in hand with incentives
An increase in fuel duty for conventional internal combustion engine (ICE) vehicles of 2p per litre could raise £4bn over the next five years, whereas a continued freeze on fuel duty could cost the Treasury £1bn a year.
What you should know about fuel benefit tax
Advisory Fuel Rates apply when you either reimburse employees for business travel in their company cars or when you require employees to repay the cost of fuel used for private travel.
Beware the tax man when it comes to private miles
You should make sure you tell HM Revenue and Customs (HMRC) if your company vehicles are available for private use by directors or employees?
Calls for clarity over changes to company car tax
Changes to company car tax from 2020/21 – including the 0% rate for EVs – were put on hold when last Autumn's Budget was shelved for the election.
Tax tip for claiming car mileage allowance
Although the MAR rates are the same as those used for AMAPs, the latter is not a relief but a limit to which an employer can pay for business miles without incurring tax or National Insurance Contributions
How to work out your hybrid car tax
A hybrid or electric company car could held bring down the amount of tax you pay on your company car. Our company car tax tables can help you.