The next government should prioritise extending the company car benefit-in-kind (BIK) taxation tables, the Association of Fleet Professionals recently stated.
The Association said that it has been two years since the current company car BIK tax tables were announced and they run only until the 2027/28 tax year. It stated that companies ordering vehicles today don’t know the tax rate drivers will be charged at the end of this decade.
It has urged the next government to settle company car tax until ‘at least’ the 2029/30 tax year.
Paul Hollick, Chair of the Association of Fleet Professionals, said: ‘There’s been something of a structural change in recent years, with the popularity of electric company cars on fleets meaning businesses have started operating longer replacement cycles to help offset their higher purchase cost, rising from typically three years to four or five.
‘This means that we need the benefit in kind tables to extend longer into the future than was previously the norm.’
21/06/2024
View all >
17/11/2025
Budget choices will determine UK’s growth
Chancellor Rachel Reeves must use the Autumn Budget to make the bold decisions necessary to get the economy firing, says the Confederation of British Industry (CBI).
READ MORE
Self-employed overcounted for decades
Official statistics have overstated the size of the UK’s self-employed population for two decades, according to the Institute for Fiscal Studies (IFS).
AI will shrink headcount
One in six employers expect AI to shrink their workforce over the next year, with junior roles most at risk, according to the CIPD.
Sign up to keep in touch to receive our latest news and industry updates.
* *
Yes, I would like to receive email updates providing me with the latest finance news, advice guides and details of future events.