New Company Car Tax Rates
Now we are in the new tax year, a new set of company car tax rates has come into force which now incorporate the new WLTP emissions testing procedure.
The new rates have been published in the two tables below: one table showing the rates applicable to cars registered before 6th April 2020 and the second table showing the rates which apply to cars registered from 6th April 2020.
Cars Registered Before 6th April 2020
Click here to view the BIK Rates tables in full
Cars Registered From 6th April 2020
EV Range Data
These new BIK tables now have a tiered element for plug in electric vehicles with CO2 emissions below 50g/km – with driver savings being relative to how many miles the car can be driven on electric only. The further the EV range, the greater % BIK saving for the driver.
These changes are currently challenging the industry because there is a lack of a reliable data source to confirm the EV range of a vehicle once it has been delivered. Although this data is included on the vehicle’s ‘certificate of conformity’, unfortunately a ‘certificate of conformity’ is not provided with every vehicle delivery.
This challenge is an industry wide issue, affecting all leasing companies and we are confident that a longer term data solution is not far away. In the meantime, our subject matter experts are currently working hard to identify the best solution to enable us to provide our customers with reliable EV range data asap.