Nokian Tyres is to appeal a tax adjustment for the years 2007 – 2010, meaning the firm must pay an extra 87 million euros. 55 million euros of the figure are additional taxes and the remaining 32 million euros punitive taxes. Payment must be made in January 2016.
A Petrol Retailers Association (PRA) member has successfully appealed via the First Tier Tax Tribunal against HM Revenue & Customs (HMRC) imposition of unreasonable conditions, to obtain an excise duty Deferment Account Number (DAN) for Oil Products.
In his Budget, the Chancellor said Insurance Premium Tax will be increased from 6 per cent to 9.5 per cent. The AA, for one, was unimpressed, describing the increase as “an outrageous hike thatcould well backfire by leading to an increase in uninsured drivers.” The IPT increase will mean an extra £17.50 on a £530 average Shoparound premium according to AA benchmark British Insurance Premium Index.
Following news that thousands of drivers have had their cars clamped and received fines of hundreds of pounds after being caught out by the change in tax disc rules, the National Franchised Dealers Association (NFDA) which represents franchised car and commercial vehicle retailers across the UK, is issuing advice on the new taxation procedures.
In December 2013 and January 2014, Finland’s Tax Administration ordered Nokian Tyres plc to pay additional taxes totalling €100.3 million following a reassessment of the 2007 to 2010 tax years. The tyre maker appealed this decision and now reports that The Board of Adjustment within Finland’s Large Taxpayers’ Office has annulled the reassessment decision and returned the matter back to the Tax Administration for reprocessing.
The Petrol Retailers Association (PRA), which represents Britain’s 5,400 independent petrol filling stations, has joined the ATM Industry Association (ATMIA) in calling for ATMs to be exempt from Business Rates.
Chancellor George Osborne’s 2015 brought a number of headlines to the automotive industry this time round. With relevant decisions focusing on autonomous car development and fuel duty freezes, this year’s budget went some way to underline the importance of the UK automotive sector to wider economic growth. In a move that will affect many in […]
Islington Council has announced plans for 9,000 diesel car drivers to pay almost £100 extra every year to park outside their homes in an attempt to cut air pollution.
It wasn’t an enormously motoring-centric Autumn statement this year, but UK chancellor of the exchequer George Osborne did confirm that fuel duty is to remain frozen and that the government would fund 84 road-building projects across the country. As far as fuel duty is concerned, some motoring groups had predicted a return of the fuel […]
Foreign-registered vehicles on Britain’s roads illegally will be seized by police under plans unveiled by Transport Secretary Patrick McLoughlin.
The Driver and Vehicle Licensing Agency, Her Majesty’s Revenue and Customs (HMRC) and the police are joining forces to identify and take action against foreign motorists who drive in the UK illegally.
From 1st October a paper tax disc no longer needs to be displayed in the windscreen of vehicles. Drivers will still be required to purchase vehicle excise duty (ved) but will no longer receive a small perforated tax disc in exchange for their money.
Edmund King, AA president, said: “Scrapping the tax disc really is a poignant moment in motoring history and the end of an era. That circular disc in the corner of the windscreen has been an intrinsic part of the look of motoring over the last 93 years. In many ways the car windscreen will look naked without a disc.
With the abolition of the vehicle tax disc taking effect from 1 October and a flurry of confused people asking about the situation through social media, leading road safety charity the Institute of Advanced Motorists has taken the opportunity to clarify the rules.
As of 1 October 2014, the Driving Vehicle and Licensing Agency (DVLA) will stop issuing paper tax discs. HPI, provider of www.hpicheck.com, warns motorists to be aware of the changes and highlights the risk of a fine, as well as facing penalty charges against a vehicle they no longer own.
Economic growth and job creation are being held back by a UK tax system the particularly hinders medium-sized businesses (MSB). A new report published by the CBI and Gran Thornton (“Stuck in the middle”) suggest that the tax system is acting as a brake on growth by disrupting cash flow, absorbing management time and dampening export ambitions. Therefore the CBI and Grant Thornton are calling on the Government to make a number of changes to the tax system, including to improve cash flow, widen access to R&D tax relief and to make it easier for MSBs to export.
The RAC report it is launching its first mobile electric charging system at GreenFleet Scotland to cater for the UK’s expanding electric vehicle (EV) market which now consists of more than 9,000 vehicles. A standard RAC diesel VW Transporter van has been fully equipped with an Evrescue, totally portable fast charging unit which can deliver around 15 miles of range to a stricken electric vehicle in less than half an hour. Equivalent to a ‘gallon of electricity’, the RAC believes this should be sufficient to get the driver safely on their way home or to the nearest charging point.
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