Asset Finance Berkshire - The Rush is On...

January 1, 2006, and the introduction of a 3% tax charge for all diesel cars.

Introduction

As disclosed in the 2004 budget and confirmed in the 2005 budget - and in line with the introduction of madatory Euro IV compliance for all diesel cars - the waiver of the 3% supplement for diesel cars meeting EuroIV standards will be withdrawn for all cars registered from January 1, 2006 though the resulting increase in Benefits in Kind tax liabilities will not affect drivers payslips intil April 2006.

Euro IV -compliant diesel cars registered BEFORE the January 1, 2006 cut-off are Exempt from the ruling. Drivers choosing and registering a new Euro IV diesel model will avoid paying the extra tax

Company Car Tax implications

The effect of the new 3% charge is that company car drivers registering a diesel car after the January 1, 2006, cut off will see a rise in their Benefits in Kind tax liability. The impact of the 3% supplement can be obtained from Pinewood direct.

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