A survey conducted by Venson Automotive Solutions has found that 72% of business drivers are concerned about the tax changes coming in April, ahead of the Spring Budget.
Changes coming in April include benefit-in-kind (BiK) taxation, Vehicle Excise Duty (VED) and an increase in the Expensive Car Supplement (ECS) threshold for electric vehicles (EVs).
BiK rates will increase by one percentage point for all vehicles emitting under 75g/km of CO2, including EVs.
BiK will increase to 4% from 3% for the vast majority of EVs.
The ECS threshold for EVs will increase to £50,000, making fewer EVs liable for additional VED.
Standard VED rates will rise by £5 to £200 for vehicles registered after 1st April 2017.
Almost one in 10 business drivers surveyed by Venson were unaware that the tax changes are coming, while 25% said they expect their employer to review company car policies in response to the changes.
13% of those surveyed said they would opt for an EV or a lower-tax internal combustion (ICE) vehicle for their next company car, while 31% said they will pay closer attention to emissions and prices when selecting their next car.
The Fuel Duty freeze is also due to end in September.
