Budget 2015: Ultra-low emission vehicles get support from Chancellor

Budget 2015: Ultra-low emission vehicles get support

KPMG comments on the Company Car Tax rates announced by the Chancellor

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James Reardon, senior manager in the KPMG’s tax people services team comments on the Company Car Tax rates announced by the Chancellor today. He said:

“The announcement by government to continue to support ultra-low emission vehicles is welcome. Attractive appropriate percentages have done much to encourage manufacturer innovation and uptake of these vehicles into company car fleets. It is still the case, however, that the appropriate percentages for these vehicles is rising sharply over the coming 3-4 years, which may dampen enthusiasm for these vehicles among company car drivers. Particularly as the additional cost of ultra-low emission technology, in comparison to traditional combustion engines, remains high.

“It is also worth noting that, given the speed of innovation in this sector, the current broad 0-50g/km and 51-75g/km bands may not even be fit for purpose in 4 years’ time.”

-ENDS-

 

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Chancellor’s Budget 2015

 

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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