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The latest figures from HM Revenue & Customs (HMRC) show that company cars continue to drive the transition to zero-emission road transport. The findings come as HMRC published its annual benefit in kind (BiK) statistics and commentary on company car and car fuel, for the 2022/23 tax year (ended 5th April 2023).

The BVRLA leasing fleet has reached a six-year high, recording 2.2% year-on-year growth to approach levels last seen in Q4 2017. The association’s latest Leasing Outlook Report shows the total lease fleet nudging above 1.9m vehicles thanks to increased demand for leased vans and Business Contract Hire (BCH) cars.

The fleet leasing sector is primed to play a vital role in the UK meeting its electric vehicle targets, in line with the Zero Emission Vehicle (ZEV) mandate coming into effect this week. 42% of new cars added to the BVRLA’s leasing fleet in Q3 2023 were battery electric vehicles (BEV), giving a strong foundation for the industry to achieve the 22% target set for total new car sales in 2024.

HM Revenue & Customs (HMRC) has published its annual statistics on company cars provided as benefits in kind (BIK) to employees. The number of employees paying company car tax has stayed the same as the previous year, showing a recovery after a period of declining figures.

HM Revenue & Customs (HMRC) would like to raise awareness of how vehicles should be classified for Benefit in Kind purposes.

It has been confirmed that the new quarterly review of the advisory electricity rate (AER) of reimbursement will be calculated based on figures published in the Office for National Statistics’ (ONS) quarterly index for domestic electricity.

As announced in the Autumn Statement on 17 November, HM Revenue & Customs (HMRC) has now released the figures for the increased van benefit charge and the car and van fuel benefit charges. The figures are increasing by the consumer price index (CPI) from April 2023.

The BVRLA welcomed the news of long-term support for the EV market in last week’s Autumn Statement. By keeping electric company car tax rates low and giving clear foresight up to 2028, the decision demonstrates the powerful impact of the association’s #SeeTheBenefit campaign and the strong voice of the fleet sector.

The BVRLA has welcomed the news of long-term support for the EV market in today’s Statement. By keeping electric company car tax rates low and giving clear foresight up to 2028, the decision demonstrates the powerful impact of the association’s #SeeTheBenefit campaign and the strong voice of the fleet sector.

Here, BVRLA head of policy and public affairs, Thomas McLennan looks at the key announcements from the 2022 Autumn Statement and what they mean for the fleet sector.

The BVRLA ramped up its #SeeTheBenefit campaign last week with an open letter calling on the new Chancellor to keep tax rates on electric company cars low.