Ernst & Young Budget reaction: Private fuel for company cars - Ernst & Young - United Kingdom

Ernst & Young Budget reaction: Private fuel for company cars

Graham Farquhar, employment tax partner at Ernst & Young comments:

“The tax changes to private fuel for company car drivers have effectively levelled the playing field. The combination of rising prices at the pumps, along with the increase in CO2 efficient vehicles, was becoming increasingly favourable as a taxable benefit for corporate fleets that use private fuel. But the tax changes announced today have redressed the balance. This may encourage some people to relinquish private fuel and also for some employers to consider buying out this benefit.”