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Tax Benefits
|
There are
many tax benefits and savings to be made when converting to
use LPG.
Since April 2002 car tax for new cars has been based on CO2
emissions (in g/km). |
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Company Car Tax
Company car tax is
based as a % of the P11D value
of a car dictated by its emissions
of CO2 in g/km. |
| BIK FOR OLDER CARS |
| Engine Size (cc) |
No CO2
figure |
Older Vehicle |
| 0 - 1,400 |
15% |
15% |
| 1,400 - 2,000 |
25% |
25% |
| 2,000 - plus |
35% |
32% |
|
|
| BIK FROM APRIL
2002 |
% of P11D
to be taxed |
CO2
(g/km)
2002/3 |
CO2
(g/km)
2003/4 |
CO2
(g/km)
2004/5 |
| 15* |
165 |
155 |
145 |
| 16* |
170 |
160 |
150 |
| 17* |
175 |
165 |
155 |
| 33 |
255 |
245 |
235 |
| 34 |
260 |
250 |
240 |
| 35 |
265 |
255 |
245 |
| NB: Exact
CO2 figure should be rounded down to the
nearest 5g/km |
|
|
Due to other
harmful emissions Diesel vehicles incur a 3% surcharge.
For a car converted to LPG there is a flat rate discount
of 1% due to the environmental benefits of LPG and a further 1%
reduction for every 20g/km of CO2 achieved
below the base level.
The cost of conversion is not added on to the cost of the car for
tax purposes.
See also:
Financial Benefits and Environmental Benefits
|
| Business Mileage Rates
|
| The tax free reimbursement
for business journeys made by employees using their own cars will
be changing in 2002. With the new rates the drivers whose vehicles
are converted to Autogas will benefit the most as they pay out the
least per mile. |
| IRAMR AUTHORISED
MILEAGE RATES |
| April 6, 2001 to April
5, 2002 |
| Engine Size |
First 4,000
miles |
Additional miles |
| <1,500CC |
40p per mile |
25p per mile |
| 1,501 - 2,000
CC |
45p per mile |
25p per mile |
| 2,001 + CC |
63p per mile |
36p per mile |
| From April 6, 2002 |
| |
First 10,000 miles |
Additional miles |
| All Cars |
40p per mile |
25p per mile |
|
Vehicle Excise Duty
VED (Car Tax disc) is directly related to
the emission levels of your vehicle,
so that the less your car pollutes,
the less you pay. |
| Annual VED payable on
new passenger cars registered from 1st March 2001 |
 |
|
Table from: DVLA leaflet INS138
For information on CO2 emission figures
for particular vehicle types go to www.vcacarfueldata.org.uk
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