Volvo Car UK is encouraging fleet managers to conquer uncertainty around company car tax and legislation by using its free Fleet Tax Guide for the 2019/2020 financial year.
The ultimate aim of the Guide is to make the everyday running of a fleet easier. The database-driven Benefit-in-Kind (BIK) calculator means income tax levels for the vehicle selected can be determined in seconds. Vehicle Excise Duty (VED) standard and first-year rates are incorporated into the Guide, as well as other invaluable information, which saves trawling through multiple data sources. This includes National Insurance Contributions (NIC) rates and thresholds, employee and employer NIC rates and thresholds, as well as details on approved mileage allowance payments (AMAPs) and advisory fuel rates (AFRs).
The rapid rate of change makes it hard to keep up with developments that could have a direct influence on the vehicle options offered to employees. For example, potential adjustments to company car tax thresholds and VED rates by the Treasury, and the adoption of Worldwide Harmonised Light Vehicle Test Procedure (WLTP) based CO2 values from April 2020, could both have a massive impact on corporate and individual tax bills.
Steve Beattie, Head of Business Sales, Volvo Car UK says: “The sheer amount of change within the fleet sector today means the demands placed on fleet managers are greater than ever. By providing free access to our Fleet Tax Guide, which delivers the latest news, regulations and tax changes as and when they happen, we hope to make managing a fleet a little easier.”
The Volvo Fleet Tax Guide will also help the fleet industry transition to a low and zero carbon future. It delivers concise information on capital allowances – CO2-based first year, main pool and special-rate pool allowances up to 2021. It also includes details on Office for Low Emissions Vehicles (OLEV) and hybrid grants with the level of grant and eligibility criteria. With all this information at their fingertips, the Volvo Fleet Tax Guide simplifies the fleet manager’s task of working out the most cost-effective route to a more environmentally responsible future.
Fleet managers can access the Volvo Fleet Tax Guide at www.fleettaxguide.co.uk/volvocars.