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Budget 2013: Chancellor hands business car market £105m in low-CO2 concessions

Date: 20 March 2013   |   Author:

The Budget 2013 incentives for the take-up of low-emission vehicles is worth over £100m to the industry, split between fleets and their drivers.

The Ultra Low Emission Vehicle extension to the 100% first year capital allowance write-down for vehicles under 75g/km is predicted to cost the Treasury £5m in 2015/16, £25m in the following year and £35m in 2017/18.

Company car drivers opting for ultra-low emission vehicles are set to benefit to the tone of a predicted £40m collectively, with the new BIK bands for vehicles with CO2 emission of 0-50g/km and 51-75g/km forecast to be worth £10m in 2015/16 and £15m in each of the following two tax years.