BUDGET CHANGES

31-Mar-2014

The 2014 Budget presented on Wednesday 19 March introduced a number of changes that will affect both Fleet Decision Makers and Company Car Drivers. Changes that will apply to new Vauxhall vehicles and their operators1 include:

 

Vehicle Excise Duty

  • Cars up to 120g/km – no change
  • Cars between 121 and 130g/km: standard rate increases by £5
  • Cars over 130g/km (both First Year and Standard): rates to increase by £5-£25 per annum
  • Vans up to 3500kg: rate to increase by £5 to £225
  • Vans over 3500kg and minibuses: unchanged at £165

 

Company Car/NIC rate Tax Bands

  • Tax years 2014/15, 2015/16 and 2016/17: rates unchanged
  • Tax year 2017/18 and 2018/19: in each of these tax years, the rates increase by 2% , up to a maximum of 37%, for all bands for vehicles with CO2 emissions over 75g/km
  • Tax year 2017/18: there will be a 4% differential between each of the 0-50, 51-75 and 76-94g/km CO2 emissions bands
  • Tax year 2018/19: there will be a 3% differential between each of the 0-50, 51-75 and 76-94g/km CO2 emissions bands.

 

Van benefit taxation

  • Increases from £3,000 to £3,090 for petrol/diesel engine

 

Fuel Benefit taxation

  • Cars: the ‘FBC multiplier’ increases from £21,100 to £21,700
  • Vans: increase from £564 to £581