Budget leaves drivers in the dark

Drivers will have to wait until next spring to see how the Government intends to mitigate the impact of WLTP on company car tax and Vehicle Excise Duty (VED).

Although the fleet industry was urgently calling for clarity, Chancellor Philip Hammond failed to mention company car tax in his recent Budget speech. However, there is a sentence tucked away in the Budget papers that says “The Government will review the impact of WLTP on Vehicle Excise Duty (VED) and company car tax (CCT) to report in the spring.”

With regards to Benefit-in-kind tax rates beyond 2020/21 Matt Dyer, Managing Director of LeasePlan UK, observes, “We used to know these rates for the next five years, but now the Government seems determined to keep fleets and motorists in the dark. Philip Hammond must rectify this as soon as possible.”

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