Double Delight as Kate Hughes and Richard Askey Make...
We are excited to share that Kate Hughes and Richard Askey have both been promoted to Partner. At DTE we…Read More
With much of the country dealing with heavy snow this winter, it seems appropriate that the November Budget had a theme of freezing things. After the controversy and backtracking from his Spring Budget, the Chancellor seems to have ensured that his second effort of the year had a smoother landing.
Amongst the high-profile announcements were the abolition of stamp duty for first time buyers, coupled with more investment in construction for the housing market, a cash injection of £2 billion for the NHS, a promise to look at how taxation can reduce plastic waste and an extension of the Young Person’s Railcard up to age 30.
But as well as these friendly soundbites, there were significant changes announced in specific areas. The feature story in our Spring newsletter, Company car costs to increase with new emissions charges, looks into the details of the increases to emissions charges over the coming years. With benefit-in-kind taxes paid on 960,000 company cars in 2015/16, lots of companies will be affected. The changes also show the government’s efforts to encourage companies to reduce their carbon footprint, but could lead to significantly increased costs for employers. If you’re looking to replace a company car over the coming years, or a car fleet, there may be some surprises in store.
Other topics we’re covering include:
We will bring you another update after the Chancellor’s Spring Statement. Please do get in touch if you think you may be affected by any of the topics raised here.
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