Fleet industry news round up March

The cost of ownership (TCO) for BEVs are becoming more competitive within a growing number of segments across Europe.

The Car Cost Index factors in the various costs involved in car ownership in each country, including depreciation, repairs, maintenance, tyres, energy/fuel, tax (excluding VAT) etc.

TCO for leasing battery electric cars is typically cheaper than petrol and diesel models in western and northern European countries compared to countries in southern and eastern Europe. Therefore, when comparing t TCO of ICE – BEVs now how have a more competitive TCO rate in a growing number of European countries.

Compact segment BEVs are more affordable in western and northern European countries, except in Germany, and the mid-sized standard segment is the least affordable segment, with BEVs being cheaper in 11 countries. 

Greece, Sweden and Finland are the cheapest places for a battery electric car based on the TCO.

Meanwhile, mid-size premium segment BEVs are cost competitive in all European countries.

Reallocated vehicles will not lose transitional BIK arrangements

The government announced in last year's autumn budget that double cab-pick up trucks would be treated as company cars from April 6th 2025.

However the wording in the HMRC tax guide suggested that reallocating a pick-up truck to another employee after April 6th would change the tax treatment of the vehicle, regardless of when it was ordered.

HRMC has now clarified that reallocated vehicles will not lose transitional arrangements.

Transitional benefit-in-kind (BIK) tax arrangements will apply for employers that have purchased, leased, or ordered a double cab pick-up before April 6, irrespective of when it is delivered. 

An HMRC spokesperson told Fleet News: “If an employer transfers a double cab pick-up to another employee between April 6, 2025, and April 5, 2029, they may continue treating it as a van for tax purposes, provided there is no disposal, and the lease has not ended.”