Company Car Tax: Update On 9th July, the Government published the company car Benefit-in-Kind (BiK) tax rates that will apply from April 2020 through to April 2023, providing long-awaited clarity for both drivers and decision-makers. The most obvious change brought about by this announcement is that, from April 2020, company cars producing no emissions will not attract any BiK tax liability. The zero percent BiK rate will also apply to cars producing 1-50g/km [...]
Are Your Tools Safe? Making sure you have the right level of insurance cover is important, and it is easy to make assumptions which mean things are overlooked. One such assumption is that your van insurance that covers your business van or fleet also covers you for tools, equipment and stock that is in the vehicle. Unfortunately, this is not the case, and if you do not have insurance in place to properly [...]
Thinking Of Ending Your Company Car Scheme? Announcements in the 2017 Government Autumn budget of tax increases on company vehicles have prompted many businesses to consider giving their employees cash allowances in place of running company car schemes. On the face of it, this would seem to be a cost-effective solution for the company, but comes with often-overlooked ramifications which impact on employees and company alike. Some of these consequences appear to be relatively [...]
Employee car schemes at a crossroads, says new survey Some 70% of respondents would opt out if tax levels rise still further Tax and cost more important than the environment 78% less likely to choose a low emission vehicle if incentives removed While employees still view employer-provided car schemes as a benefit, growing numbers would consider opting out of such schemes if car tax increases still further. At the same time, tax and [...]
Which fleet maintenance methods are most cost effective? Most contract hire packages today come with a maintenance-inclusive element, but many companies that use contract hire to fund their company cars this way don’t realise that there may well be a more cost-effective alternative. Maintenance-inclusive contract hire packages are widespread and undoubtedly profitable for contract hirers, some of whom are prepared to share these profits with fleet clients, while others are reluctant to do so. [...]
