Managing the Road Ahead: Company Car Tax

Date Posted: 12/09/2019 10:45:14

Venson guides visitors to Fleet Live through the changes to company car BiK tax 2020-2023 with a new White Paper showcased on Stand No B10

Visitors to this year’s Fleet Live are being offered help in navigating the Government’s changes to company car benefit-in-kind (BiK) tax 2020-2023, with the launch of Venson’s latest white paper Managing the road ahead: Company car tax.  With the Government’s BiK approach now confirmed, there is a clear incentive for fleets and company car drivers to ‘plug-in’ says Venson and it urges businesses to embrace the electric vehicle revolution now.

Alison Bell, Marketing Director at Venson Automotive Solutions explains; “We have promoted plug-in vehicles since 2008.  It remains abundantly clear following publication of the company car benefit-in-kind tax figures to the end of the 2022/23 tax year that those are the cars that fleets must embrace wherever and whenever possible to limit employees’ tax burden as much as possible.”

Available at stand B10 the white paper will be a vital resource for the many organisations who will be looking at how to manage their fleets in the next three years and promote their benefits to employees. The paper provides a comprehensive guide on the tax benefits and incentives on how fleets can adopt ‘plug-in’ vehicles as part of their fleet offering, as well as highlighting how fleet managers can take advantage of the tax benefits associated with petrol and diesel vehicles.

“Company car BiK tax rates for 2023/24 and beyond are not yet known and perhaps won’t be until Budget 2020.  This means that fleet operator and company car drivers are making vehicle acquisition decisions in the dark – but the road ahead is clear; it is electric,” continues Alison Bell.  “Our latest white paper aims to support fleet managers and company car drivers in making informed decisions in the next three years that will have a positive impact on their longer term EV transition.”

Venson will also be showcasing at Fleet Live its wide range of services covering all aspects of fleet management, helping fleet operators who manage cars, commercial vehicles, and specialist vehicles, as well as providing advice on fleet funding and vehicle fit-outs.

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