News: April 2013

Changes for cars

Tax write-off on low emission cars

The 100% write-off where the CO2 emissions do not exceed 110 g/km reduced to 95 g/km from 1 April 2013, and it was planned to end completely on 31 March 2015.

However, under a change in policy the 100% write-off will continue to 31 March 2018 but with a further reduction in CO2 emissions to 75 g/km from 1 April 2015.

Company car changes through to 2019/20

Further changes have been proposed to the previously announced increases in the taxable benefit of a car provided for private use by reason of an employment. These apply for 2015/16 and 2016/17, plus a commitment is announced for 2017/18, 2018/19 and 2019/20.

In essence the substantial increase in the taxable benefit previously announced from 2015/16 has been relaxed to a certain extent – by reference to ultra low CO2 emissions up to 50 g/km where a new tax charge on 5% of list price will apply for that year with increases later on.

Company car advisory fuel rates

The new rates from 1 March only show an increase of 1p per business mile (12p to 13p) for diesel fuel where the engine is up to 1,600 cc, and a small decrease in the LPG rates.

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