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 would like to invite members to attend a joint ESG and Tax Working Group meeting, taking place over Teams, on Thursday 20 June from 2pm to 4.30pm.
The BVRLA has updated its Vehicle Excise Duty fact sheet to clarify which vehicles are subject to the Expensive Car Supplement once the exemption for zero-emission vehicles is lifted in 2025.
Changes have been announced on how double cab pickups are taxed. From yesterday (12 February 2024), HM Revenues & Customs (HMRC) has updated its internal Employment Income Manual, which details changes to BiK and capital allowances.
The CBI has called on the Chancellor to extend full expensing to leased and rented assets in next month’s Spring Budget. This mirrors one of the BVRLA’s key asks on behalf of members and represents a priority area for the association.
Members can now sign up for the first Quick Wins webinar from the BVRLA Learning and Development Team. Each free webinar will feature content on a key topic area, with the first one being salary sacrifice - ‘Quick Wins: Exploring Salary Sacrifice in 45 Minutes’.
With the first payday of 2024 coming up for many, members need to be aware that Employees’ National Insurance Contribution (Class 1) rates have decreased from 12% to 10%.
The Chancellor’s recent Autumn Statement had a heavy focus on supporting workers via various wage support measures. For companies, a major change was announced to incentivise investments, but it came with a longstanding sting in the tail.