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 [...]
Driving for Business: Know the RulesCar use for business isn’t as simple as just popping out to a client’s office or doing your boss a favour and transporting some bits in the boot. There are strict rules in place for personal car use for business and falling foul of them can be costly.Personal car, cash car allowance or company car?If you do a lot of driving for your work, you may be offered a [...]
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 [...]
Moving to a Leasing Model – How Mobile Phone Contracts Show Us the Way We all like to have the latest equipment, especially in business. Being able to show you are at the cutting edge of technology can be very important – it encourages your employees and means you present well to clients. Not only that, but it gives you access to the advantages that top-end technology offers. The potential financial outlay to [...]
Charging Your Car at Work – Electric Cars for the Commute If your driving experience is centred on the commute to work, that daily grind can be much improved by an electric car. Not only does having an electric vehicle (EV) mean that you are likely to be sitting in a brand-new car with all the comfort that comes with, but also you are sitting there safe in the knowledge that you aren’t [...]
New contract hire offers from Maxxia! Take a look at some of our current special offers We have a new selection of special offers to share with you. The prices are keen, the vehicles are available and the stocks are limited, so act quickly to make sure you don’t miss out. This month’s offers include the Mercedes E300e plug in hybrid which combines electric power with a diesel engine. For those high mileage [...]
Employee Car Ownership (ECO) Schemes Could Be About To Make A ComebackBut are they right for you?Changes to the rules affecting salary sacrifice car schemes and a seemingly endless tide of rises in Benefit-in-Kind taxes for company car drivers have prompted some industry experts to suggest that Employee Car Ownership (ECO) schemes may be about to make a resurgence.While some pundits have suggested that the latest Government interventions have made a rise in personal [...]
Advantages And Disadvantages Of Employee Benefit Schemes At one time, people left education, got a job and worked their way up through that company until they reached the level they wanted. It wasn’t unusual for employees to spend their entire working lives with the same employer. This often with minimal, or maybe no specific employee benefits to speak of. Believe it or not, that wasn’t so very long ago. Now, it is extremely rare [...]
Company Car Tax Take Goes Up As Number Of Drivers Falls The Government is raising record revenues from the company car market by imposing higher taxes on drivers - at the same time as the number of drivers actually falls. Provisional figures from HMRC for 2016/17, the latest year available, show that the amount the Treasury collected in company car tax and National Insurance Contributions (NICs) increased by more than 24% year-on-year – up [...]
