Pre-Budget Report 2009 - company cars and fuel
The Chancellor has announced a number of (largely deferred) changes to the tax treatment of company cars and fuel provided by employers:
- from 6 April 2010, the taxable benefit on fuel provided to employees with company cars and vans will be increased.
- from 6 April 2010, employees provided with electric cars and vans will not have a taxable benefit in kind for a period of five years.
- from 6 April 2012, the benefit in kind on most cars will be increased.
Whether our present Chancellor is there to see these all through may be a different matter.
David Mansell is a tax adviser and a partner at Mercer & Hole. If you would like to discuss the contents of this post with David you can call him on 01908 605552.
