News and Updates from CVSL

What does the Autumn Budget 2017 mean for motorists?

Chancellor Phillip Hammond announced significant changes to his 2017 Autumn Budget, a large amount of which will affect motorists around the country. Here are some of the highlights:

  • Fuel duty has been frozen for the 8th consecutive year in a row, saving the average driver a cumulative £850 by April 2019.
  • The Fuel Benefit Charge and Van Benefit Charge will increase by RPI from the 6th of April, 2018.
  • Existing diesel supplement in company car tax to rise by 1%
  • Sale of new diesel cars that don’t meet latest emissions standards will have a one-off tax increase from April. This would mean that a Ford Fiesta that currently not meet the standards will see a one off £20 rise and whilst vehicles in the top band such as a Porsche Cayenne would receive a £500 one off increase
  • £220m made available to local authorities in England to improve air quality in the most polluted areas
  • £400m has also been made available to improve plug-in vehicle charging infrastructure, with an extra £100m in plug-in-car grant £40m in charging R&D
  • HRMC will clarify the law for people who are charging their Electric Vehicles at work will not face a BIK charge from next year

If you have any questions on how the new budget will affect you, don’t hesitate to give us a call.