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Ogilvie Fleet News & Blog

Autumn Budget 2017 - What it means for your fleet

Posted on by Mark Knight

Chancellor of the Exchequer Philip Hammond delivered his second Budget speech today (Wednesday, November 22, 2017).

Below we highlight the Chancellor’s key Budget measures that will impact on the company car and van sector and wider motor industry.

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.

 

Budget 2017 - What it means for you

Posted on by Mark Knight

Chancellor of the Exchequer Philip Hammond delivered his first Budget speech today (Wednesday, March 8, 2017).

It was also the final spring Budget as Mr Hammond announced in last November’s Autumn Statement a rescheduling of the two major fiscal-related announcements of the Parliamentary year.

Starting in the autumn, Britain will have an Autumn Budget announcing tax changes “well in advance of the start of the tax year”. From 2018 there will be a Spring Statement, responding to the forecast from the Office of Budget Responsibility, but no major fiscal event.

As a result, with today’s Budget coming just four months after the Autumn Statement it has been viewed as a “transitional Budget” with no dramatic or radical announcements.

Indeed many tax measures, including those relating to company car benefit-in-kind tax to the end of 2020/21, Vehicle Excise Duty for cars first registered from April 1, 2017, capital allowances, car fuel benefit charge, van benefit charge, van fuel benefit charge and Insurance Premium Tax had been previously announced.

Below we highlight those measures previously announced, alongside other tax changes and spending plans published in the Budget papers and impacting on the company car and van sector and wider motor industry.

The Government’s Autumn Statement 2013 – what it means to you

Posted on by Matt Topham

The Government’s Autumn Statement 2013 – what it means to you

Chancellor of the Exchequer George Osborne delivered the Government’s annual Autumn Statement in the House of Commons today (Thursday, December 5).

Sometimes described as a mini-Budget, he revealed to the nation the state of the country’s economy and public finances, in line with the latest economic forecasts from the independent Office for Budget Responsibility. Mr Osborne said: “Britain’s economic plan is working. But the job is not done. We need to secure the economy for the long term.”

Twenty-four hours earlier Chief Secretary to the Treasury Danny Alexander published the 2013 update to the Government’s National Infrastructure Plan which contained details on £375 billion worth of “pipeline projects” of which around £100bn are in the transport sector.

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