Untangle the latest on company car taxation and finance at Fleet Live 2019
BackTax experts from Deloitte, HRUX and Baldwins will help delegates at this year’s Fleet Live untangle the latest developments on company car taxation and finance.
HMRC finally confirmed its new tables for benefit-in-kind to give more long-term clarity to fleets on areas like electric vehicles with 0% benefit-in-kind (BIK) in April next year, but as with any changes the new rules also bring new challenges and complexities.
The topic of vehicle taxation and finance is central to fleet management and the Discover Fleet Theatre, sponsored by Alphabet, offers expert sessions where guidance will be designed specifically for the specialist roles that support mobility outside the traditional fleet management department. This includes professionals in finance, procurement and HR.
The Discover Fleet Theatre will feature a total of six sessions over two days at Fleet Live on October 8-9, offering sessions on finance and taxation, grey fleet, flexible benefits and procurement.
The seminar sessions aim to provide insight to newcomers to the fleet industry, while broadening the skills of existing fleet managers by finding out about the latest methodologies.
Simon Down, Deloitte associate director, will be looking at the new company car tax rules and the key opportunities or challenges they present for businesses and employees.
He said: “The new rules offer a clear tax incentive for some employees choosing electric vehicles (EVs), especially from a whole life cost perspective. In some cases, EVs will now be cost neutral, or even cheaper than petrol/diesel equivalents.”
Down said that while currently, EVs may not be practical for all employees, the current hurdles are likely to fall away over time with new vehicles, longer ranges, and a better charging infrastructure.
The session will also tackle the issue of how CO2 emissions will be affected by the move to the Worldwide harmonised Light vehicle Test Procedure (WLTP), in particular, whether published CO2 emissions will increase under the new regime and cancel out the effect of the reduced company car tax rates announced by HMRC. Has there been a slight improvement over a worsening picture?
Down said: “If the pressure of rising company car taxation on combustion engines grows, what practical and compliant alternatives are out there for businesses who want/need to provide cars to their employees?
“With so many moving parts, the broad trend is that there can no longer be a ‘one size fits all’ approach towards the provision of company cars if a policy is going to be truly effective.”
Down added that businesses with company car fleets will need to be flexible with their policy if they are going to adapt to the changing landscape and meet the diverse needs of their employees.
David Bushnell, Alphabet principal consultant, said: “It’s difficult to miss the Discover Fleet Theatre when you first arrive at Fleet Live but even if you do you will soon know there’s a session on from the number of people flocking to it from all over the hall to grab a seat.
“The reason the sessions are so popular is that they appeal to a broad audience with a range of experiences and backgrounds, focusing on topics that are directly relevant to daily lives of fleet decision-makers and influencers.”
Bushnell said after last year’s Fleet Live, customers told him they valued the sessions both for the information and inspiration provided - new information on industry developments and expert opinions, as well as being inspired as to how this insight or best practice could be applied to their own organisation.
He added: “In addition to the ongoing challenge of how to transition to electric vehicles, every fleet decision maker in the UK is looking for competitive advantage; whether that’s in terms of vehicle procurement, finance and taxation or more HR-focused elements of fleet, such as the ‘grey fleet’ challenge or moving to a more flexible approach to employee benefits.
“Whatever your company’s fleet objectives are – whether that’s driving efficiencies, increasing electrification, employee wellbeing or attracting the next generation of talent – there will be a Discover Fleet Theatre session to help inform and inspire you towards it.”
Sessions and speakers overview
DAY 1
11:00-11:45
Finance: Taxation and funding
Simon Down, Deloitte association director
Dave Hedges, Baldwins employment tax partner
This session will look at the latest thinking from HMRC on company car taxation including the latest benefit-in-kind changes, alternative fleet funding options and trends and will look at the impact of WLTP on CO2 and vehicle choice lists.
12:15-13:00
Procurement: Purchasing best practice
Debbie Floyde, ACFO board member and Bauer Media group fleet and risk and facilities manager
This session will offer best practice on procurement skills, whole life vehicle costs of fleet contracts and tips on managing suppliers and tender contracts.
14:00-14:45
HR: Implementing a flexible benefits strategy
Jack Curzon, consulting director at Thomsons Online Benefits
Amir Ali, Sandwell & West Birmingham NHS Trust head of engagement, retention and nurse Recruitment
Topics will include why flexible benefits are not actually flexible enough right now, why very few companies are offering mobility credits and how car allowances are not being used for cars. This session will also look at forgotten benefits and how to help employees with their commute.
DAY 2
11:00-11:45
Finance: Taxation and funding
Harvey Perkins, HRUX co-founder
Dave Hedges, Baldwins employment tax partner
This session will cover the same topics on finance and tax as day one including the latest thinking from HMRC on company car taxation including the latest benefit-in-kind changes, alternative fleet funding options and trends and will look at the impact of WLTP on CO2 and vehicle choice lists.
12:15-13:00
HR: The pitfalls of grey fleet and how to avoid them
Julie Davies, AMEY compliance manager
Harvey Perkins, HRUX co-founder
As more company car drivers choose to take cash companies are faced with managing more grey fleet drivers. Julie Davies will give an expert view from AMEY’s perspective on grey fleet to explain what the biggest pitfalls are. Harvey Perkins will also provide some best practice tips to help mitigate the risk of grey fleet drivers.
14:00-14:45
Procurement: Purchasing best practice
This session will cover the same topic as day one, with best practice examples on procurement skills, whole life vehicle costs of fleet contracts and tips on managing suppliers and tender contracts.
Advice Centre
In addition to the Discover Fleet Theatre delegates to the show will also be able to take advantage of the Advice Centre.
There will be a dedicated zone for delegates to get free tips from peers in the industry on areas like procurement, HR and finance.
Visitors can gain a wealth of industry expertise from some of the UK’s most knowledgeable and experienced managers, who will be on hand to answer questions and help find solutions.
The panel comprises of the Fleet Live advisory board members made up of experienced fleet managers from ACFO and leading companies in the UK.
Plan your Fleet Live visit
When? 8-9 October, 2019
Where? NEC, Birmingham
Entry? Free! Secure your complimentary pass here
Details? Find out more here