Zenith Vehicles’ Post

Could car tax hikes disrupt your budget? Rising car taxes could cost drivers up to £2,125 over five years. Critics warn these hikes, including on electric vehicles, come at a tough time for many. With Rivervale’s salary sacrifice scheme, you can drive an electric car while saving on tax and lowering your monthly costs. Interested in discovering more? Get in touch on 01273 433499 📞 #EV #ElectricCars #CarTax #RoadTax #CarLeasing #FixedRentals

If you're considering an electric car, new company cars, implementing an EV Salary Sacrifice Scheme, or upgrading your company vans, it's essential to stay informed about the upcoming tax changes. Starting in April 2025, new regulations will come into effect. The team at Lease Electric has detailed these upcoming changes, which include Vehicle Excise Duty, the Expensive Vehicle Supplement, increased Benefit-in-Kind rates, and adjustments to how Double Cab Pick Ups will be classified. To learn more, read our blog posts: Upcoming Tax Changes for Vans 2025➡️ https://lnkd.in/ePufCXaA Upcoming Car Tax Changes for the 2025/2026 Tax Year ➡️https://lnkd.in/epR5dH6B Or contact Lease Electric www.lease-electric.com enquiries@lease-electric.com 01452 229591 WhatsApp ➡️ https://lnkd.in/errcjYpW

Due to extra added costs , and tax bills , hmrc and paye bills at this time of year it really makes you think why do I bother. I literally feel like I’ve worked all year to create a lot that I then have to give away to someone else for nothing in return. Me been a small business and entrepreneur I feel like I’m punished for this and really makes me wonder if I’d be beter just getting a job to save the endless pressures of doing what I do. We’re is the perks for doing it - I employ 20 staff that’s employed not just acting like there employed like most of the building companies about, that’s twenty people with mostly four people minimum reliant on them So that’s 80 people I’m looking after and I now get penalised for this. With further rises of tax etc when it’s already a struggle. Them the worse thing is when you loose a job or you get asked to compete to someone that’s a completely different setup and stupidly at times you have to try when you should really be saying piss off. Since I’ve started this company I’ve always said I’m gonna be dearer than the competition because how I structure it but I’ve always said I want the customer who wants me to do a job because they want me to do it nowt due to cost. So this is what I’m looking for for next year again and the leads I’m on with that are making me compete may have a shock wen I decline. #leedbestbuilder If you want an Audi you no the cost difference beteeek that and a Peugeot.

Chevrolet Dealer Employee Retention Credit (revised 2024) https://lnkd.in/ghi9vWZu Key ERC Credit Takeaways: Chevy Dealers May Qualify for ERC: Chevrolet dealerships could be eligible for Employee Retention Credit benefits. ERC Can Offset Payroll Taxes: The credit can significantly reduce payroll taxes for qualifying Chevy dealers. Understanding ERC Calculation: Learn how to calculate the credit amount for maximum financial advantage. ERC Claims Can Be Complex: Navigating the ERC claim process requires understanding specific guidelines. Professional Assistance Is Key: Seeking expert help can ensure Chevy dealers maximize their ERC claim. Important 2024 ERC Tax Credit Deadline: The deadline is coming up for the final opportunity to retroactively claim your business Employee Retention Credit for the past 2020 tax year. With the April 15, 2024 deadline fast approaching, don’t let this final chance pass! Not all businesses will qualify, as it depends on multiple factors per IRS Rules and Guidelines, you might be leaving significant financial relief on the table from past COVID harm to your business in 2020 and 2021. The IRS had temporarily paused processing. You will still want to check eligibility and file now (if you qualify) because the IRS will resume processing tax credit claims in the order they are received. TAKE ACTION NOW IN 2024 If you haven’t previously filed for the ERC Credit, it is worth scheduling a phone call to explore your possible eligibility from both the past 2020 and 2021 business tax years. https://lnkd.in/dtr69VW9 #ERC #ERTC #EmployeeRetentionCredit #EmployeeRetentionTaxCredit #TaxCredit

Usually the most frequently visited tool on our DriveSmart website is the Salary Sacrifice Calculator. But something odd is happening; our current No 1 is the page on Capital Allowances. Are companies perhaps worried about Capital Allowances for electric cars and vans? With the UK's Autumn Budget due on 30 October 2024 (the proximity to Halloween hasn't escaped us!), could Capital Allowances for EVs go the way of the tax disc exemption for EVs? 'Buy it whilst you can' could perhaps be the sign-off to tax relief for EVs. We'll put a link to our pages on Capital Allowances in the comments below. #automotive #electricandhybridvehicles #electriccars #tax #capitalallowances

Wondering about company cars and Benefits in Kind (BIK)? 🚗 BIK includes perks like company cars that aren't part of your salary but still hold value, meaning you might need to pay tax on them. Need help navigating BIK and saving on taxes? 🔗Contact us today or book a FREE 30-minute chat with Lucy in the bio for more advice!

No Fiscal Hard Shoulder for Automotive Sector 🚗 It’s been one of the most anticipated budgets in a generation, but what has Rachel Reeves’ first budget signalled for fleet operators? While the 2024 Autumn Budget has spared workers (excluding those paid under IR35) of direct tax hikes, SMEs and large corporates will certainly feel the financial pinch through employer national insurance contributions as the Chancellor seeks to replenish the public purse. With Vehicle Excise Duty (VED), Benefit-in-kind (BIK), Salary Sacrifice and Plug-in Grant all on the table, the automotive industry has largely remained above the parapet, albeit more needs to be done to fuel a return to sustainable growth and economic prosperity. Commenting on the budget, Caroline Sandall-Mansergh – Consultancy and Channel Development Manager Alphabet GB, said: “After months of speculation, we welcome the Government providing clarity on BIK to the end of the decade, enabling companies and employees to make better informed decisions in the coming months and years. “I also appreciate The Chancellor extending the plug-in grant for another year and acknowledging the challenge of the current Expensive Car Supplement (ECS) – the tax levied on new vehicles over £40,000 – for EVs and I hope that this is changed before tax year end.” #AutumnBudget2024 #FleetSolutions #RoadtoZero

🚗💼 Considering a company car or a car allowance in the UK? Let's dive into the pros and cons, especially regarding tax implications! 💷 Company Car: Pros: Convenience: Maintenance, insurance, and depreciation are usually covered by the employer. 🔹 Predictable Costs: Fuel cards and servicing are often included. Cons: 🔹 Benefit-in-Kind (BIK) Tax: Company cars are taxed based on their CO2 emissions and list price, which can lead to significant tax liabilities. 🔹 Limited Choice: Options may be restricted to a specific range of models. Car Allowance: Pros: 🔹 Flexibility: Choose your own vehicle and potentially keep it after employment ends. 🔹 Potential Savings: If you opt for a fuel-efficient or lower-cost vehicle, you might save money. Cons: 🔹 Personal Costs: You bear the costs for maintenance, insurance, and depreciation. 🔹 Taxable Income: The allowance is added to your salary and taxed at your marginal rate. Ultimately, the choice depends on your personal and financial circumstances. Weighing these pros and cons can help you make an informed decision! 🚗💼 #CompanyCar #CarAllowance #TaxBenefits #UKTax #EmployeeBenefits #WorkPerks #CareerChoices #FinanceTips

Another retrograde move being considered by the new government. Salary sacrifice gives all taxpayers considerable help leasing an EV, which are mostly very expensive to use via purchase or traditional finance options. Many lease companies are now offering pre-loved EVs, which makes them accessible to almost all budgets. #EV #salarysacrifice #Budget

Read our review of the Autumn Budget, covering company car tax and Vehicle Excise Duty (VED) increases, car ownership schemes and employer national insurance contributions.