As part of our dedication to the fleet industry we have been working closely with Fleet News to support the Fleet Budget Manifesto 2018.
What is the Fleet Budget Manifesto?
Fleet News’ Budget Manifesto reflects the challenges the fleet industry is facing; uncertainty over future benefit-in-kind (BiK) taxation levels, VED and national insurance contributions beyond 2020/21, adjusting to the new Worldwide harmonised Light vehicles Test Procedure (WLTP) and air quality regulations.
The Manifesto highlights areas where action needs to be taken to provide clarity to those responsible for deciding company car strategies and company car drivers themselves.
Ahead of the Budget on 29th October, Fleet News will join with the British Vehicle Rental and Leasing Association (BVLRA) and the Association of Car Fleet Operators (ACFO) to make a joint representation to Treasury.
A summary of key points:
- Realign BiK to take account of WLTP-based CO2
- Reconsider 4% diesel supplement
- Bring forward the 2% BiK incentive for ultra-low emissions vehicles (ULEVs) to April 2019
- Raise ULEV incentives through a long-term commitment to grants
- Commit to a longer-term view of BiK – 4 to 5 years
- Begin consulting on future and alternative company car taxation policies
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"Zenith encourages the Government to work collaboratively with the fleet industry to ensure the impact of any change is fully understood. The current turbulence should not distract fleet operators from the bright future for fleet cars, when costs efficiencies can be gained from a move to cleaner electric vehicles. The initiatives outlined in the Budget Manifesto would help resolve the short-term issues and provide a clearer picture for fleet operators wishing to be innovative in their electric ambitions."
Ian Hughes, managing director