Pre-Budget Report - 30/12/2009
Source: Energy Saving Trust
The Pre-Budget Report (PBR) on the 9th December announced further tightening of Company Car Tax (CCT) bands and Fuel Benefit charges, while the electric vehicle industry has been given additional support through the taxation system.
Increases to fuel duty and the differential first-year rates of vehicle excise duty (VED) previously announced provide further incentives to review your fleet vehicle policies to ensure costs are controlled and emissions minimised.
There will be further analysis of the implications of this PBR in the January Fleet Briefing, however this mini-guide is designed to highlight those areas which you need to consider if you plan to revise your company vehicle policy or replace cars or vans in the New Year.
Fuel Benefit Charge - 30/12/2009
Source: Energy Saving Trust
For cars, the fuel benefit charge has been increased from £16,900 to £18,000 from 6th April 2010, and from £500 to £550 for vans. If you are still providing private use fuel for your employees this could be a good time to review this policy.
Electric vehicles - 30/12/2009
Source: Energy Saving Trust
To encourage the purchase of electric vehicles by businesses, electric cars will be exempt from CCT and electric vans from van benefit charge for five years from April 2010. Additionally, a 100% first year capital allowance will be provided for the purchase of electric vans from April 2010, subject to compatibility with state aid rules. Electric cars already qualify.
Drivers confess to bumo and run - 04/01/2010
Source: Whatcar.com
Leaving your car parked while shopping in the New Year sales could be risky as well as expensive, warns What Car?
According to a survey from the motoring publication, only 37 per cent of motorists polled would definitely confess to damaging a parked car, 18 per cent would hit the accelerator and drive away quickly
Company Car Tax - 30/12/2009
Source: Energy Saving Trust
The 2009 budget indicated that in 2012 the government intends to extend the system of benefit-in-kind tax rates such that they increase by 1% for each 5g CO2 / km increase in emissions from 10 %. This has been confirmed in the PBR and from April 2012 the 10% rate will apply to cars emitting 99g CO2 / km or less replacing the current 10% band at 120g CO2/km.
A Company Car Benefit in Kind Taxation table which clarifies this change will feature in next months Fleet Briefing.
Bernie Ecclestone increases bid for Saab as wind down begins - 12/01/2010
Source: fleetnew.co.uk
As the wind down of Saab begins, it has emerged that Genii Capital in partnership with F1 mogul Bernie Ecclestone has increased its offer to buy the company from GM.
Genii Capital entered the bidding process for the stricken Swedish carmaker last week at the final stage before GM closed the process for offers of interest to be registered.
Now it is reported that it is working on improving its offer.