THE April 2020 change in company car tax benefit in kind has led to a rise in new lease car registrations of battery electric vehicles (BEVs). A report from the BVRLA’s latest Quarterly Leasing Survey reveals that BEVs took 15% of all new lease car registrations in Q3 2020, up 13% year on year. If you add in PHEV lease registrations, plug-ins…
AS we prepare to park 2020 behind its COVID-19 face mask, it’s worth reflecting on some of the major trends in the leasing broker sector. Many of the changes were accelerated by the impact of coronavirus – in similar fashion to the way coronavirus accelerated trends already evident in society as a whole – such as the focus on improved digitisation, and…
THE UK could miss out on the predicted boom in EVs from 01 January 2021 thanks to supply issues once UK registrations no longer count towards EU CAFE targets. EU CAFE targets place requirements on manufacturers to meet an average of 95g/km of CO2 emissions, or face swingeing fines. The potential remains for manufacturers to concentrate their build and sales plans on Europe,…
THE government has announced that it will not be going ahead with changes to the VED regime for vans. This will also apply to motorhomes. The statement was made in a Tax policy update on 12 November. From April 2021, the government’s plan was to introduce a CO2 based taxation system for vans to mirror the existing passenger car regime. However, the…
LEASING brokers should head towards the BVRLA website for its updated guidance on the Senior Managers & Compliance Regime (SM&CR). The BVRLA says it has updated the factsheet to include the Policy Statement released by the FCA at the end of October. This was regarding extension of deadline dates and the new Conduct Rule breach reporting process. SM&CR became enforceable for all…
THE latest analysis of the BVRLA leasing broker market shows that personal contract hire (PCH) continues to drive leasing broker contracts. And while the overall BVRLA lease fleet shrank by 3.6% year-on-year, the BVRLA leasing broker channel fleet grew by 7%, recording 362,461 cars and vans on fleet. The figures are part of the latest sector analysis from the BVRLA outlined in…
THE BVRLA has launched a new complaints management course to support leasing broker members. Held remotely, the interactive webinar will take place on 07 December, 2020. The course lasts four hours from 0900 to 1300. Tony Doidge, a bespoke trainer and FCA compliance consultant in the automotive industry, will lead the course. Avoiding queries at the initial handover stage has never been…
THE BVRLA has come out strongly pro an EU trade deal. The Association says that failure to reach agreement would hit cash-strapped UK businesses, destroy the fragile recovery in the automotive sector and slow down the uptake of electric vehicles. According to BVRLA estimates, no deal tariffs on cars and vans would add £2.1 billion to the fleet sector’s annual new car…