CONSERVATIVE WIN GIVES CLARITY TO COMPANY CAR TAX
Posted on 22nd December 2019 at 16:52
A Conservative win in the general election should now pave the way for new company car tax rates to be introduced from April 2020.
Speaking in London, the Prime Minister said it was a mandate to take the UK out of the EU next month. With the Conservative Party remaining in power it means that we should see outstanding legislation (such as that relating to previously announced company car benefit-in-kind tax rates from April 2020) to be passed, as previously announced.
New company car tax rates were expected to be rubber stamped in the Autumn Budget. However, continuing deadlock over Brexit put the new BIK tax rates and required legislation on hold, after the Government decided to go to the polls.
There is expected to be a minor reshuffle this week and the Brexit bill will go before MPs next Friday. The Chancellor of the Exchequer will also name a date for the Budget, where the new rates are expected to be confirmed.
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