Budget 2015: Vehicle tax rates table
It has many names - vehicle tax, RFL, car tax, Vehicle Excise Duty (VED) - but whatever you call it, from 1 April 2015 its annual rates are set to rise by inflation. The good news is that because inflation is at an all-time low, motorists in tax band G or under won’t see any increase at all in their 2015/16 vehicle tax rates:
Like ENI, vehicle tax rates for vehicles with high CO2 are on the up as the UK Government strives to push our nation towards low emission vehicles and alternative fuels. If going all-electric doesn't suit your business, you'll need to keep a close eye on running costs, not just for this tax year but across a vehicle's full leasing term.
Your fleet policies will need attention too to keep business taxes under control. You could introduce a CO2 emission cap to support green initiatives. You could look at tightening your vehicle selection to limit the tax band spread. There's many possible positive additions and edits but the important thing is to stay on top of tax rates so you're not caught short. If you'd like us to look into which vehicles meet your business needs and have low day-to-day running costs or offer some fleet policy help, get in touch.
BIK Rates Table
Up next, check the 2015/16 UK Benefit in Kind tax rates for company cars.
2015 Budget News
Get to grips with the 2015 budget changes which affect company car fleets.