New fuel benefit and van benefit charges announced for 2014/15
The changes will see the company car fuel benefit charge multiplier rise from £21,100 for 2013/14 to £21,700 for 2014/15, making free private fuel even less worthwhile for fleet drivers.
Meanwhile the van fuel benefit charge rises from £564 for the current tax year to £581.
In addition, the van benefit charge is to rise from £3,000 for 2013/14 to £3,090 for 2014/15.
Commenting on the changes to the company car fuel benefit charge, Jeff Whitcombe of BCF Wessex Consultants Limited pointed out that not only is there an increase of £600 in line with RPI and as announced in the 2013 Budget but also the appropriate BiK percentage for most cars will increase by 1% in April 2014 and fuel prices are at their lowest level since 2011.
He added: 'Essentially with tax rising and fuel prices falling, there’s a double whammy for drivers that should make them question the benefit of free fuel.'
Natalie Middleton
Natalie has worked as a fleet journalist for over 20 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.
