From the 6 April 2012:
- The car fuel benefit charge multiplier will increase from £18,800 to £20,200
- The car benefit percentages have increased by 1% for every 5g/km for cars with emissions above 100g/km- subject to the maximum of 35%
- The special rules for QUALECs (qualifying low emissions cars, those with CO2 emissions not exceeding exactly 120g/km) will be abolished.
- The van fuel benefit charge multiplier will be frozen at £550
- The van benefit is frozen at £3,000
By Jo Nockels
Disclaimer: The information provided is based on current guidance (at date of publication) from HMRC and may be subject to change. Any advice shared here is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this information, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.