IT’S an uninspiring title, but don’t just skip to the next article just because it has a snappy introduction!
These are the nuts and bolts of our existence at Alpha Contracts.
IT’S an uninspiring title, but don’t just skip to the next article just because it has a snappy introduction!
These are the nuts and bolts of our existence at Alpha Contracts. Whilst I wouldn’t suggest we find them fascinating, (we do have more interesting lives than that) we do pay attention so that we can answer all the questions our clients ask us.
In the Budget Mr Osborne repeated the Government’s plan to increase the tax on Company Car Benefit in Kind by 25 from next year and also the deferring (indefinitely?) of the abolishment of the 3% diesel surcharge which obviously earns the Government too much money. Perhaps we wouldn’t object too much provided we thought the money raised was being spent wisely…
Our industry association the British Vehicle & Rental Association (BVRLA) commented that these taxation impositions “would suggest the Government sees Company Car Drivers as a cash cow, which is unacceptable.” Your correspondent would agree wholeheartedly, although perhaps with fewer words and syllables! However it would appear the decision makers aren’t listening, no matter the language employed.
Mr Osborne also tweaked the allowances applying to ULEV (electric and hybrid cars to you and me) suggesting that the technology is moving so quickly that the tax take on these cars is also being adversely affected. You almost feel sorry for the chap because he can’t win. No matter what he does there will be a lobby group criticising him.
A reminder for your diaries. In the next few weeks your P11D forms will need to be submitted to HMRC, and of course you won’t remember where you put the information from last year so you will call us, fortunately we have that information on tap and can answer your questions.
If you need to confirm the cost to you of your next company car then ask a member of the team at Alpha for a quotation to show the cost of the BIK rates and how they may impact upon your decision. For any other car or van related enquiry, speak to one of the team at Alpha Contracts Leasing Limited on 01604 756620.