Company Car Tax… A quick explanation for 2018/2019 A Company Car is taxed as it is effectively additional income. It is taxed as Benefit-in-Kind (BIK) and falls outside standard National Insurance criteria. Its calculation is made up of annual earnings and thus your marginal tax rate, cost of the car (it’s P11D) value and also […]
In Review; Renault Captur 0.9 TCE 90 Iconic 5dr (Petrol/Manual)
Thank you to our local personal lease customer, from Leigh (Greater Manchester), for visiting the CarLease UK team to collect their brand-new car – the Renault Captur. One of Renault’s best-selling vehicles, the Captur is an ideal product for the UK automotive market as it fulfils the “SUV-centric” public. The Catpur is equivalent to a […]
UK Budget & Tax Breaks for Driver-less Cars?
Is the UK Budget going to include tax breaks to fund driverless cars? It seems that the upcoming budget will include a finance package of at least £75m for artificial intelligence and as much as £160m towards the 5G phone system installation. Additionally, the department of education is expecting £100m with the specific requirement of […]
Company Car Allowance; BiK, WLTP & C02 Considerations
Like many enterprises, the question of leasing through the company or a car allowance, is one which is being raised more often. Much of this has come about because HMRC have continued to increase the Benefit in Kind (BiK) bands which apply to company car users. When you are offered a company car, you need […]
Car Leasing & Accounting, VAT & Company Cars
Learn more about the benefits of leasing for business. Depending on the type of business, leasing a vehicle can be beneficial to many balance sheets… Check out our latest help and advice article all about leasing and accounting.
Worldwide Harmonised Light Vehicle Test Procedure (WLTP)
WLTP officially came into force from September 2017, where any new types of cars which were introduced to the market, needed to consider WLTP standards. From September 2018, ALL new car registrations must adhere to the WLTP standards however, some exceptions will apply for “end of series” vehicles, which can be sold under the old […]
Industry News; Millions Face Un-Taxed Vehicle Fines!
Just because your car is free to tax doesn’t mean you wont get fined for not taxing it Over the last 12 months, drivers have been charged over £500,000 in fines for not applying to tax their vehicles which cost nothing to tax. Nil rated vehicles including all electric vehicles are free to tax, but […]
Help & Advice; VAT & Tax for Commercial Use vs. Personal Use
With nearly 4 million vans in the UK in 2017/2018, the commercial vehicle market is a buoyant one. The growth is not surprising, as there is a large increasing number of tradespeople and sole traders in the construction industry and there is also the huge courier/ freight market. Due to the phenomenal expansion of online […]
Summary of Vehicle Excise Duty (VED) Changes 2018
Background • Changes announced in Autumn Budget of 2017 • Changes only apply to vehicles registered on or after the 1st April 2018 and all vehicles registered before this date will be unaffected. • Vehicles which do not meet the RDE2 standards will be charged a supplement on their First Year Rate What is changing? […]
Business Lease or Personal Lease vs. VAT & Tax
January is a popular time of year for completing a tax returns and VAT. If you run a business and want to lease a new car, which is the best option for you; A Business or Personal lease? One of the questions we do get asked quite frequently, is whether or not you should utilise […]