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Budget 2013: Key points for business car operators

Date: 21 March 2013   |   Author: Jack Carfrae

September fuel duty rise scrapped

New Benefit-in-Kind bands for low emission vehicles. Those under 51g/km will be taxed at 5% in 2015/16 and 7% in 2016/17, while those between 51-75g/km will have a 9% band in 2015/16 and 11% in 2016/17. For the following year, the Government has confirmed sub-51g/km vehicles will be three percentage points lower than the 51-75g/km group, which will in turn be another three below 76-94g/km band, and the gaps will narrow to two percentage points for the tax years 2018/19 and 2019/20

First year writing down allowances for cars bought outright to be extended until 2018. This will apply to cars emitting 95g/km or less from April 2013 and will change to 75g/km or less from April 2015. This, along with main capital allowances, will be reviewed in the 2016 Budget, with any subsequent changes taking place in 2018

The Government has pledged to announce company car tax rates three years in advance, so the specific percentage bandings rates for the tax year 2017/18 will be announced in next year's Budget

Company car drivers opting for ultra-low emission vehicles are set to benefit to the tone of a predicted £40m collectively

No change for VED

Fuel and van benefit charges will increase in line with the retail Price Index

Corporation tax to drop from 21% to 20% in April 2015

Statutory Off-Road Notification (SORN) is now indefinite and does not require annual renewal