tax Archives - Page 2 of 19 - Tyrepress

Tag Archive for: tax

Infrastructure and automotive industry investment central to automotive statement

Company News, UK News

While the consumer pre-coverage of the Autumn Statement focused on government’s decision to ban upfront residential fees letting, in fact Chancellor of the Exchequer Phillip Hammond revealed something of his past as a transport secretary by announcing a series of investments in transport.

At the top of the list, £23 billion to be spent on innovation and infrastructure over five years. The chancellor also announced £2 billion per year by 2020 for research and development funding. And £1.1 billion extra will be spent on English local transport networks. £220 million aims to reduce traffic pinch points. All are likely to support the development both the automotive manufacturing and fleet businesses the tyre industry relies on for growth.

23rd November 2016/by Tyrepress Editors

Bob Jane files for bankruptcy

International News

The latest chapter of the Bob Jane saga sees the former racing driver and founder of Australian tyre and fast fit chain Bob Jane T-Marts filing for bankruptcy. Queensland-based newspaper The Courier Mail writes that the former millionaire claims to have just AU$15 (less than £9) in cash to his name and a meagre collection of assets, including a Holden car. Jane’s creditors include the Australian Taxation Office, which seeks to recoup $105 million in capital gains tax still outstanding from the 2006 transfer of the Bob Jane T-Marts business to son Rodney Jane.

14th July 2016/by Tyrepress Editors

Nokian to appeal 87 million euro additional tax bill

Company News, International News

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.

15th December 2015/by Tyrepress Editors

PRA member wins tax appeal

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.

27th August 2015/by Andrew

Rise in Insurance Premium Tax is “outrageous” says AA

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.

10th July 2015/16 Comments/by Tyrepress Editors

NFDA gives advice on tax disc rule changes

Legislation, UK News

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.

16th April 2015/by Tyrepress Editors

Nokian Tyres’ tax ruling overturned

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.

7th April 2015/by Tyrepress Editors

PRA joins in call for ATMs to be exempt from business rates

Legislation, UK News

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.

19th March 2015/by Andrew

Budget supports driverless car development, freezes fuel duty

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 […]

19th March 2015/by Tyrepress Editors

Islington Council to charge diesel drivers more

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.

26th January 2015/by Andrew

Chancellor confirms infrastructure investment, fuel duty freeze

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 […]

3rd December 2014/by Tyrepress Editors

Government takes stand on illegal foreign vehicles

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.

13th October 2014/by Tyrepress Editors

AA to fill void left by tax disc

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.

2nd October 2014/1 Comment/by Tyrepress Editors

IAM clarifies tax disc rule changes

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.

29th August 2014/by Tyrepress Editors

“Be aware of tax disc changes” – HPI

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.

7th August 2014/1 Comment/by Tyrepress Editors