Summer 2019
The quarterly newsletter of the British Vehicle Rental & Leasing Association
Boost for company car market Nearly a million company car drivers received a welcome boost in July as the Government announced a range of measures to reduce the Benefitin-Kind (BIK) tax impact of the new WLTP emissions standard. The changes (see box below) were introduced in response to HM Treasury’s recent Review of WLTP and Vehicle Taxes. They follow
a concerted and co-ordinated campaign by BVRLA members and other fleet industry colleagues which urged the Government to show greater support for the company car. In its response, the Treasury acknowledged the value of the company car market in supporting the transition to zero-emission technology, demonstrating an
At a glance: What’s new? › Those with vehicles registered before 6 April 2020 will see their company car tax bands being frozen at the 2020/21 rates until 2022/23. › Those registering new cars after 6 April 2020 will have a two-percentage point tax cut. CCT rates will then increase by one percentage point in 2021/22 and 2022/23. › All zero-emission company car drivers will pay no tax. The government has also confirmed that it will aim to announce appropriate percentages at least two years ahead of implementation to provide certainty for employers, employees and fleet operators. Members can access the updated Company Car Factsheet on the BVRLA website.
increasing alignment between the Government’s environmental and fiscal policies. “The company car fleet is still the cleanest on the road and there are signs that it is finally getting the recognition it deserves,” said the BVRLA’s Chief Executive, Gerry Keaney. The changes announced by the Treasury do not affect the Lease Rental Restriction, Capital Allowances or any other CO2-related taxes and incentives but include the fuel benefit charge. The Government missed an opportunity to make any WLTP-related adjustments to VED bands, although the BVRLA understands that there will be a call for evidence to look at the benefits of introducing more granular VED CO2 bands in the future. The BVRLA will continue to make the case for a more supportive range of low-emission motoring taxes and incentives in discussions with Government ahead of its forthcoming Budget and Spending Review. u
YOUR ASSOCIATION Welcome to the BVRLA family 2 BVRLA welcomes Chairwoman… 4 …and says goodbye to Simon Kerr 4 Voice of influence… 6 Strong relationship with Treasury 6 Mayoral candidate meets members 6 Leasing Broker Conference is a hit 7 Congratulations to Jay Parmar 7 Proud BVRLA Members campaign 15 REGULATION & COMPLIANCE Demand on ADR service is up Consumer Rights: Did you know?
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FUTURE MOBILITY Summer Reception wins support 8 Future Mobility Congress 11 RESEARCH & INSIGHT Road to Zero Report Card Cars in the City
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PROFESSIONAL DEVELOPMENT e-learning is key to training NLP course proves a hit
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