Van benefit and Car and Van Fuel Benefit Order 2021 Debate
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Kemi Badenoch
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Van benefit and Car and Van Fuel Benefit Order 2021
Kemi Badenoch Excerpts(3 years, 10 months ago)
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The Exchequer Secretary to the Treasury (Kemi Badenoch)
The van benefit charge and fuel benefit charges for cars and vans will be uprated by the consumer price index from 6 April 2021. The uprate will take effect as follows:
Van Benefit Charge will uprate from £3,490 to £3,500
Car Fuel Benefit Charge multiplier will uprate from £24,500 to £24,600
Van Fuel Benefit Charge will uprate from £666 to £669
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 2021-22 tax year.
The Government will lay the statutory instrument to uprate these charges before the House on 9 March 2021. A tax information and impact note (TIIN) will be published at Budget 2021 and will be available at www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.
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