THE Government has already announced major changes in company car tax with the abolition from April 6 of the so-called Qualifying Low Emission Car (QUALEC) category. It means that the lower end of the system has been revised, which will see the scale charges ranging from 10% to 35% … Continue reading
THE 3.02p per litre fuel duty increase (plus VAT) scheduled forAugust 1, 2012will go ahead. Despite much lobbying by business and consumers, the Chancellor refused to axe the increase, which was first announced in Budget 2011 and reconfirmed in last year’s Autumn Statement. Average UKfuel prices are currently at … Continue reading
ON April 1, VED rates will increase in line with the RPI, apart from VED rates for Heavy Goods Vehicles which will be frozen in 2012–13. Vehicle Excise Duty from April 1 for cars registered on or after 1 March 2001 VED Band CO2 emissions g/km 2012-13 First … Continue reading
EMPLOYEES who are in receipt of company-funded fuel used privately will see their benefit-in-kind tax bills rise from April 6. The Chancellor announced in the Budget that the fuel benefit charge multiplier for company cars will increase from £18,800 to £20,200, and will increase by 2% above the RP Iin … Continue reading
HM Treasury has confirmed that the previously announced reduction in the main rate of capital allowances on plant and machinery, which includes vans and cars, will come into effect for the 2012/13 financial year with rates frozen for 2013/14. While continuing to adhere to the system introduced in 2009, … Continue reading
Julie Jenner, Chairman of ACFO: ‘Future changes in company car tax rates and capital allowances will drive fleet managers and drivers into lower emission cars at a faster rate. The Government’s decision to tighten company car tax rates by one percentage point up to the end of the 2014/15 tax … Continue reading
CHANCELLOR of the Exchequer George Osborne has announced that the 2012 Budget will be held on Wednesday, March 21.