Tax Charge to Reduce on Hybrid Cars

The Government has announced plans to reduce the company car tax rates on low emission vehicles from 6 April 2020. For cars with no CO2 emissions, the current percentage applied to the list price to determine the benefit in kind value, is 13%. This is set to increase to 16% in 2019/20 and then fall … Continue reading Tax Charge to Reduce on Hybrid Cars

Cars in the Business

For those businesses operating as a limited company, it is important to remember that as a director, you are a separate entity from the company. This is in contrast to a sole trader or partnership, where the proprietor or partner is, in fact, the business.  This difference sets the context for paying or reimbursing motor … Continue reading Cars in the Business

Advisory Fuel Rates From 1st June

For employees using a company car, the new fuel rates for use from 1st June are as below: Engine Size Petrol-amount per mile LPG-amount per mile Diesel-amount per mile 1400cc or less 10 pence 7 pence 9 pence 1401cc to 1600cc 13 pence 9 pence 9 pence 1601cc to 2000cc 13 pence 9 pence 10 pence … Continue reading Advisory Fuel Rates From 1st June

Advisory Fuel Rates From 1st March 2016

For employees using a company car, the new fuel rates for use from 1st March are as below: Engine Size Petrol-amount per mile LPG-amount per mile Diesel-amount per mile 1400cc or less 10 pence 7 pence 8 pence 1401cc to 1600cc 12 pence 8 pence 8 pence 1601cc to 2000cc 12 pence 8 pence 10 pence … Continue reading Advisory Fuel Rates From 1st March 2016

Ways To Save Tax Ahead Of The 5 April Year End

The end of the tax year of 5 April is fast approaching, and this is always a good time of year to think about ways to structure your business and personal finances so that they are as tax-efficient as possible. With new rates and various legislative changes due in the 2016/17 year, here are some … Continue reading Ways To Save Tax Ahead Of The 5 April Year End

Advisory Fuel Rates From 1st December

For employees using a company car, the new fuel rates for use from 1st December are as below: Engine Size Petrol-amount per mile LPG-amount per mile Diesel-amount per mile 1400cc or less 11 pence 7 pence 9 pence 1401cc to 1600cc 13 pence 9 pence 9 pence 1601cc to 2000cc 13 pence 9 pence 11 pence … Continue reading Advisory Fuel Rates From 1st December

Is It Time To Ditch Your Fuel Charge Benefit?

The car benefit charge multiplier increased from £21,700 to £22,100 on 6 April 2015 and, with effect from 6 April 2016, will increase again in line with the retail prices index. The equivalent benefit for vans is £594 and, again, will increase in line with the retail prices index. This means, for example, if your … Continue reading Is It Time To Ditch Your Fuel Charge Benefit?

You Auto Know The Car Pool Criteria!

If you provide your employees with a car which you deem a pool car, then you must ensure that this is a pool car within HM Revenue & Custom’s definition. If HMRC enquire and find that the car should in fact be treated as a company car, then they will enforce this treatment, along with any … Continue reading You Auto Know The Car Pool Criteria!

Advisory Fuel Rates From 1st September

For employees using a company car, the new fuel rates for use from 1st September are as below Engine Size Petrol-amount per mile LPG-amount per mile Diesel-amount per mile 1400cc or less 11 pence 7 pence 9 pence 1401cc to 1600cc 14 pence 9 pence 9 pence 1601cc to 2000cc 14 pence 9 pence 11 … Continue reading Advisory Fuel Rates From 1st September

100% First Year Allowances on Low Emission Cars Extended

Up until 31 March 2015 it was possible for businesses to claim up to 100% of the cost of cars purchased for use in the business if they had CO2 emissions of 95g/km or less. This is known as first year allowances (FYA) and HMRC have extended the deadline for claiming FYA on low emission cars, … Continue reading 100% First Year Allowances on Low Emission Cars Extended