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ACFO 'disappointed' chancellor did not publish 2020/21 BIK rates in Budget

Date: 17 March 2016   |   Author: Daniel Puddicombe

John Pryor, ACFO's chairman, has expressed his disappointment that the chancellor, George Osborne, did not publish benefit-in-kind rates for 2020/21 in the Budget.

In the previous Budgets, the chancellor provided tax rates five years in advance, with that being reduced to four years in yesterday's announcement.

Pryor slammed this decision saying that fleet operators running cars into a fifth year will be "left in the dark as to their tax liability."

The fleet body figure also warned companies "to be aware" of the Government's announcement that it is considering limiting the range of benefits, such as salary sacrifice schemes.

"Many public and private sector organisations have already introduced car salary sacrifice schemes and ACFO is aware of many others that continue to consider their implementation," Pryor said.