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BiK Rates Company Car Tax

Budget 2015: Mixed blessings for fleets says TMC

In the Budget statement, Mr Osborne said: “To encourage a new generation of low emission vehicles we will increase their company car tax more slowly than previously planned, while increasing other rates by 3% in 2019-20.

He also announced that the proposed 0.54p-per-litre fuel duty escalator due in September has been cancelled.

Commenting on this, Paul Jackson, MD of the Miles Consultancy, said: “The aggregate effect of this and recent budgets will be to take an extra £1.5 billion in tax from a million company car drivers, in BIK, over the next five years while 'giving back' £1.1 billion in fuel tax to 30 million motorists, through cancelled increases in fuel duty. That is a measure of the way that automotive taxation is shifting away from general motoring towards fleet users – and how focused fleet decision makers will need to be on costs over the next few years.

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Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.