Time to switch to an Electric Company Car ?

Big benefits are coming from 6th April 2020 for company car drivers choosing a pure electric vehicle – there will be NO benefit in kind and so NO income tax on the car or fuel to pay in 2020/21 ! This is as a result of the changes to company car tax rates announced for… Continue reading Time to switch to an Electric Company Car ?

Autumn Budget – 29 October 2018

So, we already knew about some of the announcements before the chancellor, the Rt. Hon. Philip Hammond MP, spoke yesterday, so much so he even made a joke about toilets and leaks. As ever there was good news and bad news for taxpayers, a full summary is on our website but here are some good… Continue reading Autumn Budget – 29 October 2018

Spring Budget 2017

I am sure that you have seen the headlines in the papers this morning about the Budget and for a detailed analysis please see the report on our website: http://www.torrwaterfield.co.uk/news/budget-report. The items that have caught my attention and I think are relevant to most people are as follows: National Insurance for the self-employed At present,… Continue reading Spring Budget 2017

VAT on Commercial Vehicles

You would think that it was easy to identify a commercial vehicle, such as a HGV or a transit van and in most cases it is. However vehicle companies are now manufacturing vehicles that have a dual purpose. These vehicles are car derived vans which are sold as lifestyle vehicles that can also be used… Continue reading VAT on Commercial Vehicles