Budget 2012
The 2012 Budget sought to increase the fuel benefit charge multiplier from £18,800 to £20,200 during that tax year and by two per cent in the 2013-14 tax year. Whilst the van fuel benefit multiplier was set to be frozen at £550. There were also changes proposed to increase the percentage rates for company car tax. The articles below will give you a good summary of the proposed changes as well as an in-depth look at how they could affect you.
To see how the latest budget measures may affect your personal tax liability you may like to use our company car tax calculator.
Latest Budget 2012
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29 Mar 12Fleets hit for an extra £1.5bn in Budget 2012Chancellor George Osborne has handed company car operators and drivers a £1.5 billion tax increase over the next five years through hiking benefit-in-...
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21 Mar 12Budget 2012: Reaction from LeaseplanDavid Brennan, Managing Director at LeasePlan UK said: "Road travel is a necessity, not a luxury, for many businesses. These organisations make a subs...
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21 Mar 12Budget 2012: No change to fuel duty or zero emissions vehiclesChancellor of the Exchequer George Osborne has announced that there will be no change to fuel duty plans already set out. That means that the planned ...
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21 Mar 12Budget 2012: All the news as it happensBusinessCar will be reporting live on the 2012 Budget as it happens on Wednesday. Keep an eye on the homepage for live feeds on all the news that flee...
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21 Mar 12Budget 2012: Government freezes Van Benefit Charge The Government has frozen the Van Benefit Charge (VBC) at £3000 for the 2012/2013 financial year.
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21 Mar 12Budget 2012: Increased leasing cost of sub-95g/km cars could lead to more outright purchaseLeasing cars with emissions of less than 95g/km could prove more expensive than purchasing them outright from April 2013, after the chancellor announc...
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21 Mar 12Budget 2012: Modest changes for VEDThe Government has announced a modest rise in VED in its 2012 Budget, effective from the April 2012.
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21 Mar 12Budget 2012: Reaction from The Warranty GroupIan Simpson, sales and marketing director at The Warranty Group, said: "There is a chance that the lowest rate tax threshold rise and the highest rate...
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21 Mar 12Budget 2012: Infrastructure plans are nothing newPlans for investment in the UK's transport and commercial infrastructure that were announced in the Budget were largely repetitions of promises made i...
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21 Mar 12Budget 2012: Reaction from EpyxGary Gibson, head of customer services at Epyx, said: "For fleets, 2012 has been all about a renewed focus on cost control and reduction, ensuring tha...
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21 Mar 12Budget 2012: Businesses will pay less taxThe UK will become one of the cheapest countries in the developed world to do business, following cuts in the rate of tax on company profits announced...
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21 Mar 12Budget 2012: Big change for BIKThe chancellor has given the business car market clarity with regard to car benefit-in-kind charges until April 2017, but the industry is unlikely to ...
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21 Mar 12Budget 2012: Government is "on course", says ChancellorThe Government's current tight economic planning is bringing the country's finances back on course, according to the Chancellor of the Exchequer.
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21 Mar 12Budget 2012: Capital allowance changes for business carsFrom April 2013, the capital allowance rate will only be available to cars emitting 130g/km or less, as opposed to the current system, which applies t...
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21 Mar 12Budget 2012: 3% diesel BIK levy to be scrapped from April 2016The Government has confirmed that the 3% diesel BIK levy on business cars will be scrapped in April 2016.
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21 Mar 12Budget 2012: Reaction from the AAEdmund King, AA president, said: "At a time of record prices at the pumps the August increase in duty is a Budget blow-out which will force drivers of...