HMRC data reveals growth in company car drivers
The total number of reported recipients of company car benefit was 760,000 in the 2022/23 tax year, up 40,000 from the previous year after figure had been in steady decline from 960,000 in 2015/16. HMRC’s annual publication provides a breakdown of HMRC’s taxable benefits in kind statistics for company cars (and company car fuel). Figures […]
EVs attracting drivers back to company car schemes
Employees who have previously taken cash options are returning to company car schemes in “noticeable” numbers thanks to electric vehicles (EVs), reports Arval UK. Shaun Sadlier, head of consulting at Arval UK, said this was something that was predicted when the latest zero and low benefit-in-kind rates for EVs were unveiled in 2019, but is now […]
IFS: New taxes required to replace fuel duty
The rise of electric vehicles combined with current government polices towards less fuel duty mean new taxes will be required to plug an inevitable funding shortfall. That’s according to a study by the Institute for Fiscal Studies, which asserts that cutting fuel duty by 2p per litre in the upcoming Budget would cost £1 billion […]
Infrastructure and tax top list of fleet buyer concerns
A lack of road infrastructure causing greater congestion and increased vehicle taxation are the two biggest issues facing fleet and mobility managers in the next five years. The finding comes from the 2019 edition of Arval Mobility Observatory, which covers 3,930 fleets and asks a wide ranging set of questions about fleet and mobility trends. When asked what they expected […]
