Car Tax Guide 2007
In the 2007 Budget a number of announcements affecting fleet were made, a summary of these are:
- Benefit-in-kind bands for company car drivers remain unchanged for 2009/10 (from the 2008/09 rates)
- The private fuel scale charge applicable for company car drivers remains at £14,400
- Excise duty for car band B has reduced to £35 whilst the annual excise duty for band G will be £400 from 2008/09
- Fuel duty will increase by 2 pence per litre from October 2007
- Corporation Tax will be reduced from 30% to 28% from April 2008 thus slightly impacting companies offsetting fleet costs against tax: smaller companies will pay an additional 1% of Corporation Tax (currently 19%) from April 2007 increasing the level to 20%
- The VAT fuel scale charge will increase in line with fuel prices from May 1, 2007
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