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Car Insurance -
Darling 'disappoints' car bosses - 11/10/2007
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The chancellor's statement about car ownership schemes during his pre-Budget report was a disappointment, according to the British Vehicle Rental and Leasing Association (BVRLA).
In a statement the organisation said that what the industry needed was a long-term sustainable view, whereas Alistair Darling has only tackled the industry's issues over the short-term.
The BVRLA welcomed the government's recognition of employee car ownership schemes (Ecos) as genuine plans but said that the industry was still awaiting the promised review of approved mileage allowance payments.
"Failure to detail the long awaited changes to corporation tax allowances serves merely to underline our disappointment in the overall statement," a spokesperson concluded.
"We completely fail to understand the reason for any further delay."
Accounting Web recently noted that the cost to employers of Ecos included the expenses of contract hire, disallowed VAT on the rentals, national insurance contributions on the car benefit, corporation tax disallowance and fuel and car insurance, among others.
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