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Ogilvie Fleet News & Blog

Team Ogilvie complete raise £3,000 for charity

Posted on by Mark Knight

Cheque

Four members of staff from Ogilvie Fleet’s Sheffield office have raised £3,000 for two local charities by completing the Yorkshire Three Peaks Challenge. 

The team climbed three of Yorkshires highest peaks – Pen-y-ghent, Whernside and Ingleborough – covering 25 miles and 5,200ft of ascent in less than 11 hours.

The funds raised will be split between St.Lukes Hospice in Sheffield and the Sheffield Wednesday Community Programme. The Hospice provides specialist palliative care for patients with terminal illnesses and their families in Sheffield. The Community Programme works in conjunction with schools and local organisations to develop cohesive communities in the area through participation, social inclusion, health & well-being and education.

The team would like to thank all of their sponsors and Ogilvie Group for their support.

 

Cash or Car: the impact of OpRA

Posted on by Mark Knight

Following the Finance Bill Update, Optional Remuneration Arrangements (OpRA’s) are changing the way employees are taxed on schemes that swap salary for benefits.

The new rules came into effect on 6th April this year and affect people who choose to take a company vehicle instead of a cash alternative.  Essentially, this means that an individual will be taxed on the greater amount of the company car tax or the income tax payable on the cash alternative.

Cash or car

The graphic above highlights that in some cases an employee who chooses a low emissions vehicle will inadvertently face a higher tax bill, whilst the employer will see a rise in National Insurance Contributions (NIC).  However, Ultra-Low Emission Vehicles (ULEV’s), those with emissions under 75g CO2/km, are exempt.

Ogilvie Fleet recently held our inaugural Fleet Taxation Forum, in association with Deloitte, to discuss the changes in the recent Finance Bill update and the implications on fleets and drivers.

Ogilvie Fleet's online company car tax calculator not takes the OpRA changes into account and works out whether you will be paying tax on a vehicle or the Optional Remuneration.

To find out more about the changes, you can view the presentations here.

True or False - has the budget affected salary sacrifice?

Posted on by Mark Knight

MiSalarySacrifice from Ogilvie Fleet offers an easy way for employees to drive away a brand new, fully insured and maintained vehicle, with one monthly payment through their salary. The Governments recent Finance Bill made some changes to the way the schemes operate, but Richard Jessop, Head of Salary Sacrifice is here to explain some common misconceptions about the changes. 

Q1 - ‘salary sacrifice schemes have been scrapped by the Government’

FALSE. All that has changed is the tax treatment. The Government has approved car benefit schemes so it's business as usual.

Q2 - ‘prices go up for all employees’

FALSE. Around half of the salary sacrifice drivers currently in schemes are in cars that would not be affected by the new rules, either because they have opted for a ULEV or because the drivers are already paying more in gross Benefit in Kind (BiK) than the gross salary being sacrificed. For the rest, over a quarter will see an average increase of less than £2.50 per month.

Q3 - ‘there are no longer any financial benefits for employees’

FALSE. There are still huge savings to be made with NI savings and manufacturer discounts.

Q4 - ‘there are no longer any National Insurance savings for employees’

FALSE. NI for employees is NOT affected by the new rules. NI savings remain for all employees.

Q5 - ‘only ULEVs are available through such a scheme’

FALSE. The savings for ULEVs are greater under the new salary sacrifice rules, but drivers can continue to choose any car, make or model with varying savings depending on their own circumstances and the CO2 rating of the vehicle.

Q6 - ‘I can still get a car on a salary sacrifice car scheme’

TRUE. Salary Sacrifice schemes are here to stay and still provide great value and worry free motoring.

For more information on MiSalarySacrifice, visit the website here, call 0330 333 1283 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

 

New low emissions BIK rules removed from Finance Bill

Posted on by Mark Knight

i3

A proposed change to Benefit-in-Kind tax rates for ultra-low emission vehicles has been scrapped from the Finance Bill that was announced in the spring budget.

The snap election means parliament will be dissolved on May 3, with Finance Bill subsequently reduced from 762 pages down to 130 to ensure it is approved by both Houses of Parliament.

Whilst the 15 new tax bandings, due to take effect from 2020, will now be omitted form the Bill, Optional Remuneration Arrangements and changes to Vehicle Excise Duty are still included.

The news will be welcomed by the industry that had pushed for the Finance Bill to be discussed at length prior to it, although the changes could still come into place in the autumn budget.

A specialist industry tax advisor commented: “The Commons wasted no time in approving the Finance Bill, which goes to the House of Lords today and then to Her Majesty on Thursday (27th). The Chancellor said that measures removed from the Bill would return to parliament after the General Election, with the likelihood that effective dates would remain unchanged. It thus seems most likely that the Finance Act in the next parliament would receive Royal Assent in mid-September, just like FA 2016. We can’t rule out enactment by the third week of July – in line with the original timetable.”

More information can be found on the Fleet News website here.

British drivers facing new emissions rules in French cities

Posted on by Mark Knight

British motorists heading to France this summer will need to plan ahead if they are heading to one of three major cities, as the new measures have been introduced to reduce pollution in line with European emissions regulations. 

All vehicles travelling to Paris, Lyon or Grenoble will now require a clean air sticker, called a Crit’Air vignette, to be displayed. The colour of the sticker indicates the level of emissions produced by the vehicle and drivers without one could face an on the spot fine of up to £ 117.

The scheme aims to reduce the emissions output in some of France’s major cities, by restricting access to some vehicles during times of particularly high pollution.

Stickers cost as little as £3.20 for foreign motorists, but drivers are advised to buy as soon as possible, with delivery talking up to 6 weeks. 

The sticker assigned to a vehicle is based on its European Emissions Standard, ranging from green, the cleanest electric and hybrid vehicles, to black, those with the highest levels of emissions. Older vehicles or those with particularly high emissions will not be able to apply for a sticker and will not be permitted access when restrictions are in force.

The RAC has warned of some unofficial third party sites that are selling the stickers for up to seven times the official rate. Drivers should only buy through the official Crit’Air website here. 

If you are travelling to Europe this summer, you can find a full breakdown of local driving laws and regulations on the RAC’s driving abroad pages, including checklists for Europe’s most popular driving destinations. 

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