Chancellor of the Exchequer Philip Hammond delivered his first Budget speech today. It was also the final spring Budget as Mr Hammond announced in last November’s Autumn Statement a rescheduling of the two major fiscal-related announcements of the Parliamentary year. Starting in the autumn, Britain will have an Autumn Budget announcing tax changes … [Read more...]
Finance
Technology is outpacing knowledge of fleets
The adoption of Advanced Driver Assistance Systems in UK fleets is accelerating but the industry’s knowledge is struggling to keep up with the pace of change, according to research from Autoglass. A survey of 250 British fleet managers found that just over a third (34%) of the vehicles in car and van fleets have some ADAS-enabled safety features, such as … [Read more...]
Car tax changes confuse drivers
Two-thirds of Welsh drivers are unaware of the new car tax laws coming into force from 1 April. The research by Confused.com also revealed only one in 10 UK drivers understand the new car tax laws and two out of five UK drivers say the new charges would discourage them from buying a 2017 plate. Amanda Stretton, Confused.com’s motoring editor, said, … [Read more...]
Tax changes confusing companies
Fleets are increasingly seeking external advice to work through the implications of new tax regulations that will take effect from April this year, reports Arval. The vehicle leasing and fleet management company says that the headline changes – affecting Benefit in Kind for drivers entitled to a cash option or a company car, salary exchange schemes and … [Read more...]
Diesel can still play a useful role
Diesel still has an important role to play for many fleets despite calls for a scrappage scheme designed to improve air quality by removing older vehicles, says Arval. The vehicle leasing and fleet management company believes that such initiatives can be very effective in removing old and inefficient vehicles, but there is a risk that all diesel vehicles … [Read more...]
High mileage owner benefit launched
Fleet Evolution, one of the country’s leading providers of car salary sacrifice schemes to SMEs, has launched a scheme to give drivers who cover a lot of miles peace of mind when it comes to their vehicles. The newly-announced Employee Car Ownership (ECO) scheme will allow employees who do high business mileage to own a company car with employer volume … [Read more...]
Newslines 20 February
As Welsh Government scrutinises a detailed financial proposal to build the £425M Circuit of Wales, it has emerged that nearly £1M was given by the developers to another consultancy headed by the project's chairman. Michael Carrick set up the Heads of the Valleys Development Corporation, which has received £9M grants and loans from Welsh Government for … [Read more...]
Euro 4 changes impact on bike market, says cap hpi
Changes to emissions directives which came into effect at the beginning of this year are having a significant impact on the motorcycle market according to automotive data experts, cap hpi. Alan Elsworth, Green Book Editor with cap hpi, says that despite the bike market being the most exciting it has been for a long time with manufacturers unveiling new … [Read more...]
New higher tax will hit sales and registrations, say hirers
The new Vehicle Excise Duty regime will hit the car rental industry with a 400% tax rise, damaging its ability to purchase the newest, cleanest vehicles and provide affordable mobility to millions of customers. A new report from Oxford Economics, commissioned by the British Vehicle Rental and Leasing Association, has found that the rental sector will be … [Read more...]
Brits borrowed more for new cars in 2016
The Finance & Leasing Association says new business in the point of sale consumer car finance market grew 12% by value and 8% by volume in 2016. New business was up 3% by value and down 3% by volume in December, compared with the same month in 2015. The POS consumer new car finance market reported new business up 1% by value and 8% lower by volume … [Read more...]
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