Following the Chancellor’s Budget 2020, we’ve summarised the most important policies and economic forecasts for fleets and motorists in this guide.
The guide covers;
The economic and fiscal forecasts and the policies for motorists
Policies for fleets and motorists
Plug-In Car and Van Grants
£532 million to maintain the Plug-In Car and Van Grants until March 2023 – as well as the announcement that the Plug-In Car Grant (PiCG) is reduced to £3000 from £3500 from 12th March 2020, and cars costing over £50,000 no longer qualify.
Van benefit charge
No Van Benefit Charge for zero-emission vans from 2021.
Capital allowance bands are tightened – only zero emission cars will qualify for 100% first year allowance.
Fuel duty has been frozen for the 10th successive year.
Company car tax rates (CCT)
Company car tax rates confirmed – and have been frozen between 2023 and 2025.
Vehicle Excise Duty (VED)
All zero-emission vehicles are exempted from the VED ‘expensive car supplement’ until 2025.
£500 million for rapid charging infrastructure.
Want the inside story?
Tune in to our latest Fleet Navigator Podcast on Budget 2020 with reaction and analysis from LeasePlan’s Head of Consultancy Services, Matthew Walters and Specialist Fleet Consultant Caroline Sandall.
Download the guide: Budget 2020: Guide for Fleet Managers
We’ve summarised the most important policies and economic forecasts for fleets and motorists in this guide.