Van Benefit and Car and Van Fuel Benefit Order 2020 Debate
Full Debate: Read Full DebateDepartment: HM Treasury
Jesse Norman
Main Page: Jesse Norman (Conservative - Hereford and South Herefordshire)Department Debates - View all Jesse Norman's debates with the HM Treasury
Van Benefit and Car and Van Fuel Benefit Order 2020
Jesse Norman Excerpts(4 years, 10 months ago)
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The Financial Secretary to the Treasury (Jesse Norman)
The van benefit charge and fuel benefit charges for cars and vans will be uprated by the consumer prices index from 6 April 2020. The uprate will take effect as follows:
Van benefit charge will uprate from £3,430 to £3,490.
Car fuel benefit charge multiplier will uprate from £24,100 to £24,500.
Van fuel benefit charge will uprate from £655 to £666.
This measure is being announced outside of the normal fiscal process to ensure employers and HMRC are given enough time to prepare for the uprate, ahead of the 2020-21 tax year.
The Government will lay the statutory instrument to uprate these charges before the House today. A tax information and impact note (TIIN) will be published at: www.gov.uk/government/collections/tax-information- and-impact-notes-tiins.
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