Articles tagged: Chancellor
Business Car Manager: Editor’s Blog SO, thanks Alistair Darling. From a purely selfish point of view, it was hardly life enhancing: fuel duty going up (and it’s already spectacularly expensive anyway); beer duty is going up (no chance to drown our sorrows, then); and wine duty is going up too (are there any pleasures left?)…. Read more…
Filling up with fuel: nearly 10p a gallon more expensive from tonight Cost of petrol and diesel rises by 1.84p Motoring – the costs involved always seem to creep up somehow. The latest blow to your pocket will be delivered tonight by Alistair Darling, when the Chancellor will finger your pockets for an additional 1.84p… Read more…
If you use a personal contract hire lease to fund your cars, then you will benefit from the Pre Budget Report VAT decrease VAT reduction favours personal contract hire I think there are some glimmers of hope and respite for small businesses that we can pull out of Chancellor
The Chancellor has ended the Government’s freeze on fuel duty increases with a 2p a litre rise in duty from 01 December 1, 2008.
The reduction of VAT to 15% from 01 December 2008 will make personal contract hire (PCH) leases cheaper.
PCH leases benefit because the VAT is included in the monthly lease rental.
The VAT reduction was announced by the Chancellor today. It was part of the Pre Budget Report (PBR).
The VAT reduction will last from 01 December 2008 to 31 December 2009. For 2010 it will revert to 17.5%.
The Chancellor has increased the cost of motoring for small businesses.
The key figures are the L200 rise in VED for vehicles with emissions above 226g/km (band G).
This rise to L400 will be phased in over two years: L100 immediately; a further L100 in 2008-09.
More modest rises occur in bands D to F (151g/km to 225g/km).
Most small businesses use private vehicles for work purposes. A recent Croner reader survey reported 98% of businesses used their vehicles for work-related travel.
Chancellor Gordon Brown added that the statutory mileage rates, known as AMAPs, will also be reformed
Biofuel Saab – qualifies for 2% discount The Chancellor has signified that he wants business motoring to have a reduced environmental impact. The broad thrust was to impact on business car costs for those vehicles with higher emissions; and reduce business car costs for those with lower emissions. The key points to consider are these:… Read more…