ACFO calls on govt to clarify tax changes
Posted by Admininstrator on Thursday, 23 Oct 2008, 14:30 in General News
Another motoring story from Auto Windscreens
According to the professional body, the majority of fleet operators remain confused about how the new measures will affect them.
Citing concerns raised at two seminars held in Oxford and Bradford, the ACFO criticised Whitehall''s failure to release details of changes to capital allowances and the rental disallowance.
It urged the Treasury to publish the amendments in full as soon as possible, insisting they must be made public prior to the 2008 Pre-Budget report - due in the next few weeks.
Alison Chapman, lead tax partner of the Deloitte & Touche Automotive Sector Group, commented: "The changes mean that every single model has to be examined for its tax impact.
"Employers who do not review their policies could well find the depreciation and funding elements of their fleet costs increase by up to 15 per cent as a direct result of these changes."
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