Draft legislation for Finance Bill 2019/20 is published

The government has published draft legislation for the next Finance Bill to deliver its Budget 2018 commitments, particularly in relation to Company Car Taxation.

The legislation introduces a modified table of Worldwide Harmonised Light Vehicle Test Procedure (WLTP) percentages to be used for the purposes of Company Car Tax and related charges for cars first registered on or after 6 April 2020 for the tax years 2020/21, 2021/22 2022/23.

Cars first registered on or after 1 October 1999 but before 6 April 2020 will continue to be taxed based on the CO2 emissions figure measured under the New European Driving Cycle (NEDC) procedure.

The final contents of Finance Bill 2019/20 will be subject to confirmation at Budget 2019.

More information can be found on the GOV.UK website.

Read the BVRLA press release issued 9 July: Government provides welcome boost to the company car market.