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Spring Statement 2018

The Spring Budget, announced on 13th March 2018, continues to place importance on lowering C02 emissions and choosing more environmentally friendly vehicles for your fleet.

Vehicle Excise Duty - increased rates for first year on new diesel vehicles that do no meet the Real Driving Emissions Step 2 standard will be enforced on 1st April.

Vehicle Excise Duty for vans - RPI influenced rises in VED for vans will be enforced from 1st April.

Fuel Duty - Remains unchanged.

Company Car Tax Bands - diesel benefit-in-kind car tax increases to 4% for vehicles that do not meet RDE2 standard from 6th April.

Capital Allowances and Lease Rental Restriction - the CO2 emissions threshold for main rate capital allowances on new car purchases decreases from 120g/km to 110g/km.

Fuel Benefit Charge - Tax on employer provided fuel for private milage is increasing to £23,400 from 6th April from £22,600. For vans this rises from £610 to £633.

Van Benefit Charge - LCV’s and double-cab commercial vehicles will have VBC set at £3,350 or £3983 if entitled to private use, from 1st April.