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Salary sacrifice and company cars

By |2020-03-26T15:30:38+00:00August 22nd, 2019|Company car tax, Salary sacrifice|

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 [...]

Why you should read this about WLTP

By |2018-07-26T09:30:42+01:00July 24th, 2018|bmw-wltp, Company car tax, WLTP|

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 [...]

Lease rental restrictions

By |2018-04-17T15:19:38+01:00April 17th, 2018|Company car tax, Company car tax allowances, Contract Hire, Contract hire and leasing|

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 [...]

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