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 [...]
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 [...]
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
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.
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.
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.
Electric charge points installed by businesses will qualify for an extended period of 100% First Year Allowances it was announced in Budget 2018
If there was an end to austerity announced in the Budget 2018, company car drivers won't feel the effect with no change in taxation
If you are a business that supplies free fuel to your employees, then you need to use the new VAT fuel scale charge tables applicable from May 01
WLTP is the new method of measuring fuel consumption and CO2 emissions Virtually all new cars will have to show the new WLTP measurement from September 01, 2018 It will affect fuel consumption figures, and CO2 emissions, all of which are predicted to worsen This will have a potential knock-on effect on Vehicle Excise Duty, and benefit in kind company [...]
The Government has hinted that tax incentives for electric vehicles will be available to accelerate the move towards a zero emission future
Car fuel benefit tax is payable if your company provides you with all the fuel for your company car. We explain what the tax is; and how to avoid it - because it's likely you're paying more in tax than the benefit of the free fuel from your company
If your car is written off, the insurance payout will leave you out of pocket when you come to get a replacement. That's where GAP insurance comes in to fill the gap between the price paid and the market value of the car. It's also applicable to car leasing.
A cap hpi study of more than 600 vehicles has shown that CO2 rises by 10% under WLTP but PHEVs are hit worst under the new more realistic measurement of mpg and CO2 emissions
HMRC has reminded employers that they must report salary sacrifice and cash allowance agreements on form P11D using the new OpRA rules
IF you contract hire your business cars, then those business car lease rentals are an allowable expense against income tax or the firm’s corporation tax. However, certain lease rental restrictions apply, depending on your car’s CO2 exhaust emissions. New lease rental restriction bands from April 2018 If your car has CO2 emissions of 110g/km or less, 100% of the lease [...]
Company car tax tables are essential to help you work out the benefit in kind tax payable on your company car. Our tables show the percentage bands for 2018/19-2020/21 and include a downloadable pdf version for the first time
Thanks to a change in the Scottish taxation system, company car drivers resident in Scotland will pay higher company car tax. On top of the company car tax changes this April
Company car tax is to change over to new WLTP emission rules from April 2020 in a new Department for Transport consultation proposal document
WLTP fuel changeover date is April 2020 the Department for Transport has announced in a consultation document called Road vehicles - Improving air quality and safety
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