Bespoke Tax Accountants

Specialist tax advice, accountancy and tax returns

01242 505970
info@bespoketax.com

  • Home
  • About Us
    • Meet The Team
    • Careers
    • Statutory Information
    • Privacy Policy
  • Who We Help
    • Personal and Family
    • Business
    • Our Clients
  • News
    • Making Tax Digital
  • Giving Back
  • Contact
  • Cloud Accounting
    • Xero
  • App

Tax break to help black cabs turn green

14th March 2018 By bespoketax

Tax break to help black cabs turn green

The government has confirmed that a new tax allowance for electric taxis will come into effect from April 2018, a year earlier than had been expected. The new exemption will be worth £1,550 for anyone purchasing a new zero emission black cab. In addition, zero emission taxis worth over £40,000 will no longer have to pay the Vehicle Excise Duty charge from this April.

It is hoped that these changes will help encourage more taxi drivers to replace old diesel taxis for a cleaner and greener alternative. Drivers will also benefit from over £400 a month in fuel savings.

Commenting on the announcement, Chris Gubbey the CEO of LEVC (formally London Taxi Company), said:

‘We are delighted that the Treasury has brought forward previously announced changes to Vehicle Excise Duty for green taxis. These measures will encourage more cabbies to switch to zero emissions transport sooner – meaning improved air quality across the UK.

A small number of drivers who already own the vehicle or are expecting to take delivery in March will still have to pay an additional £310 charge. However, LEVC will compensate these drivers to ensure that they are not penalised for being the first to make the transition to a cleaner vehicle.’

Filed Under: HMRC notices

Recent News

  • Government tackles late payment to small firms
  • Rights to regenerate
  • Tax on an inherited private pension
  • IHT Main Residence Nil Rate Band

News Categories

  • Budget Summary
  • Business
  • Capital allowances
  • Capital Gains Tax
  • Construction Industry Scheme
  • Corporate Governance & Regulation
  • Corporation Tax
  • Duties
  • Employee Benefits
  • Employment & Payroll
  • Employment Law
  • Family Tax Credits
  • General
  • HMRC notices
  • Income Tax
  • Inheritance Tax
  • National Insurance
  • NIC & Pensions
  • Overseas personal tax issues
  • Overseas tax issues
  • Payroll
  • Pension
  • Personal
  • Practice News
  • Stamp Duty Land Tax
  • Tax credits
  • Tax Diary
  • Value Added Tax

About Us

Bespoke has a reputation for helping our clients make the most of their financial situations and in turn we have become a trusted extension of their business or family.

Bespoke assist with compliance requirements, providing specialist tax advice, and planning for now and the future.

Keep informed.
Sign up for our Topical Newsletter

Our FREE monthly newsletter will keep you up to date with the latest news related to the world of accountancy.

Register Here

Contact

Delta Place,
27 Bath Road, Cheltenham,
Gloucestershire, GL53 7TH
01242 505970
info@bespoketax.com

ICAEW Chartered AccountantsXERO Gold PartnerChartered Institute of TaxationMember of EISA

Copyright © 2021 · Bespoke Tax Accountants · Website by Culpepper & Co

.
This site uses cookies: Find out more.