Road tax heads environment measures

Road tax heads environment measures

Road tax to deliver £1.2bn for chancellor

The chancellor unleashed a barrage of environmental changes in his first
Budget,
among them a £1.2bn drive on road tax, the biggest single revenue raising
measure announced.

The move was criticised as a ‘revenue raising exercise’ by Frank Sangster, an
environmental tax partner at KPMG. He added that the proposal was ‘not going to
decrease emissions’ .

The reforms will include six new vehicle tax bands and be based on CO2
emissions per kilometer. New vehicles will have a separate tax scheme in their
first year.

As part of a commentary on government efforts to cut carbon emissions
Alistair Darling announced a new Carbon Budget would be set with each main
Budget for the next five years from next year.

Experts have speculated that the Treasury’s focus on carbon could drive
growth in new environmental advisory services for the firms.

Nick McChesney, partner in environmental tax at PricewaterhouseCoopers, said
firms would need to ‘clarify’ how to offer advice on environmental taxation to
their clients.

See our Budget 08
Special
Report

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource