In the time since LeasePlan published its last annual fleet funding and taxation guide in association with Deloitte, the British public has voted to leave the European Union; a new Prime Minister has moved into Number 10; the Conservative Party has lost the slim majority it had in Parliament; a new Air Quality Plan has been published to tackle diesel emissions; and there have also been various smaller, more specific changes that will nevertheless have profound implications for fleet professionals.
This means that the publication of LeasePlan’s latest guide comes at a particularly good time. There’s a lot for fleet managers to get to grips with at the moment, and our report helps you to do just that. It’s packed with clear explanations of all the new rules and what they mean for your business, including:
Optional Remuneration Arrangements. As of April this year, new rules regarding Salary Sacrifice and Cash Allowance Options came into effect for all new vehicle deliveries.
Vehicle Excise Duty. Any cars registered after 1st April 2017 are subject to new bands of VED that are less lenient when it comes to carbon dioxide emissions.
Company Car Tax. Rates are rising each year, until the potential introduction of a new system in 2020-21 that will create greater incentives to go green.
Lease Accounting Standard.
The International Accounting Standards Board’s new regime should come into force in January 2019. This will mean that, for companies reporting under International Financial Reporting Standards
(IFRS) any lease activity will need to be accounted for on their balance sheet.
Worldwide Harmonised Light Vehicle Testing Procedures. The first phase being due in September, this is the first step towards a more realistic emissions testing regime. If it becomes the basis for taxation, it will affect many of the calculations that go into fleet policies.
Rarely have fleets faced so many changes at once. But some things remain constant – and that includes LeasePlan’s support for its customers. Our latest fleet funding and taxation guide is designed to help you through the year ahead.