Fleet Live: Understand the impact of HMRC changes to BIK

Finance tangle

Tax experts from Deloitte, HRUX and Baldwins will help delegates untangle the latest developments on company car taxation and finance at Fleet Live 2019.

HMRC has finally confirmed its new tables for benefit-in-kind (BIK) to give more long-term clarity to fleets on areas such as electric vehicles with 0% BIK in April next year.

But, as is often the case with change, the new rules also bring new challenges and complexities.

The topic of vehicle taxation and finance is central to fleet management and the Discover Fleet Theatre, sponsored by Alphabet, offers expert sessions where guidance will be designed specifically for the specialist roles that support mobility outside the traditional fleet management department.

This includes professionals in finance, procurement and HR.

The seminar sessions aim to provide insight to newcomers to the fleet industry, while broadening the skills of existing fleet managers by informing them about the latest methodologies.

Simon Down, Deloitte associate director, will be looking at the new company car tax rules and the key opportunities or challenges they present for businesses and employees.

He said: “The new rules offer a clear tax incentive for some employees choosing electric vehicles (EVs), especially from a wholelife cost perspective.

"In some cases, EVs will now be cost-neutral, or even cheaper than petrol/diesel equivalents.”

The session will also tackle the issue of how CO2 emissions are being affected by the move to the Worldwide harmonised Light vehicle Test Procedure (WLTP), in particular, whether published CO2 emissions will increase under the new regime and cancel out the effect of the reduced company car tax rates announced by HMRC."

Fleet Live will give the fleet management community and decision-makers the chance to face future challenges and opportunities together with two days of learning, sharing and networking on October 8-9 at the NEC in Birmingham.

The event is complementary for fleet professionals and delegates can sign up for their ticket at www.fleet-live.co.uk/online-registration.

Discover fleet theatre: sessions and speaker overview at Fleet Live 2019

When: Tuesday October 8

11.00 Finance and tax best practice session

Dave Hedges, Baldwins employment tax partner

Simon Down, Deloitte association director

This session will look at latest thinking from HMRC on company car taxation and potential changes coming down the line covering areas including plug-in vehicles and grants.

12.15 Procurement best practice session

Peter Eldridge, sales and marketing director, ICFM

This session will offer best practice on procurement skills, wholelife costs of fleet contracts and tips on managing suppliers.

14.00 HR: implementing a flexible benefits strategy

Jack Curzon, consulting director at Thomsons Online Benefits

Amir Ali, Sandwell & West Birmingham NHS Trust head of engagement, retention and nurse recruitment

Topics will include why flexible benefits are not actually flexible enough, why very few companies are offering mobility credits and how car allowances are not being used for cars.

It will also look at forgotten benefits and how to help employees with their commutes.

When: Wednesday October 9

11.00 Finance and tax best practice session

Dave Hedges, Baldwins employment tax partner

Harvey Perkins, HRUX co-founder

This session will cover the same topics as in the 11 o’clock session the previous day.

12.15 HR: The pitfalls of grey fleet and how to avoid them

Harvey Perkins, HRUX co-founder

Julie Davies, AMEY compliance manager

There are around 14 million-plus privately-owned vehicles driven on work-related journeys, compared with around 940,000 company cars on the UK’s roads, according to HMRC, and the number is growing as more company car drivers choose to take cash.

An expert on grey fleet will present a case study to explain what the biggest pitfalls are.

The session will also look at the challenges around mileage management, accident management and general vehicle maintenance and how a fleet manager or HR professional can put an action plan in place to tackle grey fleet.