FOLLOWING our story in last week’s newsletter, Delays in registrations will lead to rental rises, any chance of deferring the new WLTP tax rates appears to be off the table.
With cars stuck in compounds, and dealers unable to work and register vehicles, new cars will be subject to potentially much higher VED and BIK rates post April 01 and 06 respectively.
A report from the BVRLA says HM Treasury has confirmed there is to be no change in WLTP application dates:
The association said.
“The BVRLA is well-aware of the administrative and financial challenges members are facing with this tax change, which have been exacerbated by the huge volume of undelivered and unsupplied vehicles that are stuck at various stages within the order process.”
However, “Given the timescales involved…there is no way of delaying the advent of WLTP-based CO2 tax in April.”
It means that WLTP CO2 based values will be used from April 01, 2020 (VED) and April 06, 2020 (BIK).
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
