We explain why now is the best time to make the most of a Spire business lease
On 1st April 2017, the car tax rules are changing, and with it will come increased tax charges for the majority of cars. However, if you register your new BMW before this cut-off date, it will be taxed according to the more favourable taxation structure currently in place. To find out exactly how the new system works and what it means for the specific BMW model you’re considering, speak to our expert business team.
These car tax changes for April 2017 have been introduced as a direct result of manufacturers like BMW producing ever more efficient cars, with EfficientDynamics technology giving considerable improvements in engine efficiency and emissions, attracting low tax charges as a result. There will be an additional charge of £310 on any car costing £40,000 or more including options; cars emitting over 190g/km CO2 will pay a larger penalty as well. However, even extremely clean cars are affected, with many models emitting under 100g/km CO2 that are currently free of tax, now attracting taxation. If you’re considering a new BMW for your business, minimise the costs by getting in touch with Spire today.
First year road tax after 1st April 2017
|CO2 emissions (g/km)||Petrol (TC48) and diesel cars (TC49)||Alternative fuel cars (TC59)|
|1 - 50||£10||£0|
|76 - 90||£100||£90|
|91 - 100||£120||£110|
|101 - 110||£140||£130|
|111 - 130||£160||£150|
|131 - 150||£200||£190|
|151 - 170||£500||£490|
|171 - 190||£800||£790|
|191 - 225||£1,200||£1,190|
|226 - 255||£1,700||£1,690|
After the first year, you will then pay:
|Electric vehicle||Alternative fuel||Petrol or diesel|
New vehicles that cost more than £40,000
For cars costing over £40,000 (including options and before discounts), after the first year there will be a supplementary charge on top of the standard CO2 emissions-based rate. This £310 charge will be applied for the first five years.
|Fuel type||Standard annual rate||Additional rate||Total annual payment|
|Petrol or diesel||£140||£310||£450|
Find your next BMW before 1st April 2017:
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