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Budget 2012: Details of changes to Company Car Tax for 2014-2017

The Government has announced that the percentage of list price subject to tax on Company Cars will increase by 1% for cars emitting more than 75g/km CO2, to a maximum of 35% in 2014–15, and by 2% to a maximum of 37%, in both 2015–16 and 2016–17.

In April 2016, the Government will remove the 3% diesel supplement. It will mean sthat diesel cars will be taxed at the same level as petrol cars.

Zero and ultra-low carbon emission vehicles, such as the Nissan Leaf, will see their five-year exemption come to an end in 2015. The percentage for zero-emission and low-carbon vehicles will be 13% from April 2015 and will increase by 2% in 2016–17.

CCT2

Details on current Company Car Tax rates here.

 

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Best available rate 9.20%

Total repayment £8,930.17

Total cost of credit £1,430.17

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Representative example

Borrowing £7,500 over 4 years with a representative APR of 25.4%, an annual interest rate of 25.4% (Fixed) and a deposit of £0.00, the amount payable would be £239.77 per month, with a total cost of credit of £4,008.96 and a total amount payable of £11,508.96.

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