Toyota and General Motors call for Budget U-turn over Osborne's green car tax
- Details
- Published: Friday, 15 June 2012 11:00
- Written by Jonathan Walker
A bit more detail from our coverage of the recent hearing of the Commons Transport Committee:
Motor industry executives told the Committee that the Chancellor had set back attempts to develop and sell low-emission vehicles in the March Budget.
Employees who receive company cars are charged a benefit-in-kind tax, on the basis that the vehicle is effectively part of their income. For vehicles with the highest emissions, the tax rate is 35 per cent of the value of the vehicle each year.
