At Activa we like to keep our customers up to date with all the latest news regarding Contract Hire, Vehicle Leasing and Fleet Management for company vehicles throughout the UK.
The new Worldwide Harmonised Light Vehicles Test Procedure (WLTP) is set to be introduced later this year, and may identify higher carbon dioxide CO2 emissions for vehicles than the current test.
Fleet managers must face up to fuel price increases, at least in the short term, after oil producers agreed to cut production for the first time since 2008.
Fleet funding costs and employee company car benefit-in-kind tax bills will increase amid warnings of a potential average £1,500 rise in new car prices, caused by Britain’s exit from the European Union.
Company car benefit-in-kind tax changes are to be introduced at the start of the 2020/21tax year, to encourage fleet and employee demand for ultra-low emission vehicles.
The government is to crackdown on tax efficient salary sacrifice/cash allowance car schemes as it seeks to plug a hole in HM Treasury’s coffers.