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Car benefit changes 2013/14

Can you summarise what the changes to company car and van benefits are from 6 April 2013 please?

From the 6th April 2013:

Company cars

  • The car fuel benefit charge multiplier will increase from £20,200 to £21,100
  • The lower threshold will be reduced from 120g/km to 115g/km
  • The lowest appropriate percentages are still 0 per cent and 5 per cent
  • The 10 per cent charge will now apply to cars with CO2 emissions of 76g/km to 94g/km
  • The appropriate percentage will increase by 1 per cent for all vehicles with CO2 emissions between 95g/km and 215g/km, to a maximum of 35 per cent

Vans

  • The van fuel benefit charge multiplier will increase from £550 to £564
  • The van benefit is frozen at £3,000

The rules and implications of company vehicles are far reaching, so you would be advised to seek professional advice from your local TaxAssist Accountant before acquiring a new vehicle. 

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