Scrutton Bland Budget Report March 2021

8

Budget 2021

Minimum Wage

Increases in the National Minimum Wage and National Living Wage rates occur in April each year.

Age

NLW

21 - 22

18 - 20

16 and 17

Apprentices

From 1 April 2021

£8.91

£8.36

£6.56

£4.62

£4.30

Apprentice rates apply to those under 19, or 19 or over and in the first year of their apprenticeship.

Tax and Travel Mileage rates

Car benefits

Changes to the HMRC business mileage rates are announced from time to time. The fuel only advisory rates below relate to company cars only and apply from 1 March 2021.

Cars registered after 5.4.20 % of list price taxed

Cars registered pre 6.4.20 % of list price taxed

2021/22

CO 2 emissions (g/km)

Car – fuel only advisory rates Engine capacity

Petrol

Diesel

LPG

0

1

1

1-50 Electric range 130 or more

1400cc or less

10p

9p

7p

1401cc to 1600cc

12p

9p

8p

2

1

70-129

5

4

1601cc to 2000cc

12p

11p

8p

40-69

8

7

Over 2000cc

18p

12p

12p

30-39

12

11

Under 30

14

13

For those using their own vehicle the following mileage allowance payments apply.

51-54

15

14

For every extra 5

+1

+1

160 and above

37

n/a

First 10,000 miles

Vehicle

Thereafter

165 and above

n/a

37

For fully diesel cars generally add a 4% supplement (unless the car is registered on or after 1 September 2017 and meets the Euro 6d emissions standard) but the maximum is still 37%. For emissions over 75g/km if the CO 2 figure does not end in a 5 or a 0 round down to the nearest 5 or 0.

Car/van

45p

25p

Motorcycle

24p

24p

Bicycle

20p

20p

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