A hot topic of discussion that we consistently have with candidates is how much tax they pay on their company car and at times how little employers take this into consideration when proposing schemes.
There are a lucky few that are on eco-schemes or are already in hybrid/electric vehicles which means they are already benefiting from reduced tax. Companies that have these policies in place will be more attractive to potential employees as even with a small move forward in salary or potentially move for parity will feel like a pay rise!
The government plans to bring forward the ban on the sale of petrol & diesel cars & vans to 2032. This was originally going to be introduced in 2040. It is predicted that the budget will freeze company car tax and they will be introducing zero benefit-in-kind for fully electric cars.
It's time for employers to put more emphasis on their car policy.
Although next month’s Budget is widely expected to contain the freeze on company car tax for fleet cars and the introduction of a zero Benefit-in-Kind rate for fully electric cars, as announced last July
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