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BUDGET '09: Treasury clarifies £85m Budget figure for company cars

Date: 29 April 2009   |   Author: Tristan Young

UK 2009 Budget, by Alistair Darling

HM Treasury has clarified that the £85 million in tax revenue to be generated in the 2011/12 tax year comes from all changes to company car tax, not just the removal of the £80,000 cap on P11D values for benefit-in-kind.

Despite the Budget 2009 document stating the £85m figure only relates to £80,000 cap, a Treasury spokesman told BusinessCar: "The £85 million referred to in Table A1 of the Budget includes the impact of both shifting down the CCT thresholds by 5g/km and removing the expensive cars cap in 2011-12. The majority of the £85m revenue (page 10 of Budget) is raised from the thresholds rather than the expensive cars cap measure, which will affect less than 1,700 vehicles."