Policy News Journal - 2012-13

Company Cars

COMPANY CAR TAX FOR SECURITY ENHANCED CARS

16 May 2012

HMRC has announced tax reliefs for those who are provided with security enhanced cars due to the nature of their job. This legislation has been enacted with effect from April 2011, and will be entered in the 2012 Finance Bill. The legislation has been changed due to the £80k cap being abolished on company cars and it was felt that for the estimated 100 individuals this would affect it would create unfairness in the tax system.

For full details from HMRC, click here .

SECURITY ENHANCED CARS – P11D GUIDANCE

22 June 2012

HMRC has published interim guidance for employers on the completion of forms P11D where cars were provided to employees who can demonstrate that the nature of their employment creates a threat to their personal security.

Company Car Tax: Security Enhanced Cars - Interim Guidance

COMPANY CAR AND CAR FUEL BENEFIT CALCULATOR UPDATED

30 July 2012

HMRC has updated the company car and car fuel benefit calculator to reflect the increase in the car fuel benefit multiplier from 6 April 2012.

Follow this link for full details

COMPANY CAR AND CAR FUEL BENEFIT CALCULATOR UPDATED

10 January 2013

The HMRC Car & Benefit Calculator has now been updated to take account of changes to be brought in for 2013/2014.

If you wish to use the Car & Benefit Calculator it is now updated, however as a summary reminder of known forthcoming changes to the Car Benefit rules please be aware that:

Changes from 2013-14  The lower threshold will be reduced from 120g/km to 115g/km.  The lowest appropriate percentages are still 0 per cent and 5 per cent. 10 per cent will now apply to cars with CO2 emissions of 76g/km to 94g/km.  The appropriate percentage will increase by 1 per cent for all vehicles with CO2 emissions between 95g/km and 215g/km, to a maximum of 35 per cent.

Changes from 2014-15  The lower threshold will be reduced from 115g/km to 110g/km.

CIPP Policy News Journal

12/04/2013, Page 86 of 362

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