In The News
Against the backdrop of showroom closures and furloughing staff, it’s easy to forget that some tax changes continue to be introduced as normal. HMRC have issued new VAT Fuel Scale Charge rates which should be used for VAT periods beginning on or after 1 May 2020. The rates can be accessed via this link:
The quarterly rates can be found in section 2 of the notice under Quarterly Charges, and vehicle emission figures should be rounded down to the nearest multiple of 5.
During the lockdown period, the amount of private fuel provided to employees is likely to have reduced considerably, but unless you choose to calculate output VAT based on actual private use, the Fuel Scale Charges will still need to be accounted for.
No updates have been released in relation to Demonstrator Scale Charge rates for a number of years.
If you have any queries on these private use charges please contact Michelle Malone at firstname.lastname@example.org
Or visit our LinkedIn page for more info:https://www.linkedin.com/company/ase-plc/