Van benefit and Car and Van Fuel Benefit Order 2021 Debate
Full Debate: Read Full DebateKemi Badenoch
Main Page: Kemi Badenoch (Conservative - North West Essex)Department Debates - View all Kemi Badenoch's debates with the HM Treasury
(3 years, 10 months ago)
Written StatementsThe 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.
[HCWS763]