Company vans
|
From 6 April 2005, employees will not be liable to
tax if they have to take their van home but are not allowed other
private use of the vehicle. Where the private use is unrestricted,
the existing £500 or £350 scale charge will continue to
apply until 5 April 2007. After that date, the discount for older
vans will be removed and the scale charge for unrestricted private
use will increase to £3,000. In addition, there will be a £500
fuel charge if the employer provides fuel for private use. Self-employed
van drivers are not affected by these new rules.
|
Company cars and car fuel
|
For 2004/05, the set figure for the company car fuel
benefit charge will remain at £14,400.
The CO2 emissions level that qualifies for the minimum petrol and
Euro IV diesel percentage charge (ie 15%) will be frozen at 140 grams
per kilometre for 2006/07.
|
Childcare
|
From 6 April 2005, employees will be able to receive
up to £50 a week of childcare free of tax and national insurance
contributions where their employers contract with an approved childcarer
or provide childcare vouchers for the purpose of paying an approved
childcarer. The childcare must be registered or approved home-childcare
and it must be made available to all employees.
|
Payroll giving
|
Small and medium-sized enterprises with fewer than
500 employees that set up new payroll giving schemes from April 2004
will be able to apply for a one-off grant to help with the cost of
establishing the scheme. The grant will be available for two years.
|
Enterprise management incentives (EMI)
|
| For EMI options granted after 16 March 2004, it is
no longer necessary for the qualifying company to own directly, or
via its subsidiaries, at least 75% of any subsidiary companies. |