Fuel could become the highest pence per mile cost of running a company car in less than five years, says CFC Solutions.
The fleet software industry market leader points out that petrol and diesel prices have risen by roughly 50% in the last five years and there is every reason to expect that they will increase by the same amount before 2016.
The new advisory fuel rates (AFR) for company cars can be used immediately, although companies are under no obligation to do so until the beginning of January.
The new fuel figures replace those advisory rates which have been in place since the beginning of July, and generally increase the amount payable per mile for diesel company cars. The latest AFRs are tabled below and are based on engine size.
We tend to think of car accidents as major collisions involving thousands of pounds' worth of remedial bodywork attention.
But, in fact, the bump in a car park, the broken door mirror, the ding in the door, are actually the most common type of collisions experienced by firms around the world.
If you had the opportunity to set all, or at least most, of your company car car costs against the business, you would probably take it, wouldn't you, asks Ralph Morton. And if there was the chance to reduce the amount of VAT you pay, that would also be worth considering, too? Especially as the June 2010 Emergency Budget announced VAT would rise from 17.5% to 20% on 04 January 2011.
Well, here's how. It's called contract hire.