News

The more expensive company car

The new tax year will again see higher company car tax scales for most drivers.

In 2016/17 the increase will be greater than in previous years for many drivers, because with few exceptions, the scale charge will rise by two percentage points rather than the normal one. Until the Autumn Statement, the tax bill for diesel cars had been due to go down from April 2016, but the Chancellor - probably with VW in mind - decided to delay this cut until 2021/22. You could be better off leasing your own car.

Tax laws can change. The Financial Conduct Authority does not regulate tax advice.