Drivers of company vans have been urged by the Federation of Tax Advisers to stop making private journeys in their vans or face an increased tax bill.

Under new HM Revenue and Customs rules, which were introduced on the 6th April, if an employee uses the van for private journeys other than commuting, the benefit value on which they pay tax will increase.

The benefit in kind charge for all company vans has increased by 500% from £500 to £3,000.  In addition to this, if any private fuel is paid for by the employer a van fuel benefit of £500 will also be incurred.

Higher rate tax payers will face charges of £1,200 a year on the van, with an additional £200 annual tax increase for private consumption of petrol. An employee on a lower annual salary, for example £15,000,  will face an annual increase of roughly £660 with an additional £110 charge for petrol if paid for.

Employers Class 1A National Insurance charges will also increase in line with the larger benefit values , meaning higher tax bills all round.

For further information on these changes please speak to your client manager.

UK firms that deal with electrical and electronic equipment have been urged to sign up to a disposal scheme which complies with new waste rules. 

Electrical waste is now one of the fastest growing waste streams across Europe according to the environmental agency. On the 1st July the EU Waste Electrical and Electronic Equipment (WEEE) directive comes in to force in the UK and aims to encourage more recycling, recovery and re-use; meaning that less equipment will find its way to landfill sites.

There are 37 approved schemes; helping companies to meet the requirements of the WEEE regulations. Further information of these schemes can be found online at: http://www.environment-agency.gov.uk/weee

We are going to be sponsors at this years Kent 2020 vision exhibition, which takes place on Thursday 26th April 2007. This year’s venue is the Kent Showground, Detling, Maidstone.

The day is free and is open from 8am to 5pm for you to come along to the event; throughout the day there are free workshops and key note speakers (need to be pre-booked if you are interested).

For further information on the event visit www.eventskent.co.uk alternatively for a leaflet on the event please email Cheryl@a4gsolutions.co.uk