The Government has confirmed that the 2016 Autumn Statement will take place on Wednesday 23 November 2016. This will be the first bi-annual budgetary announcement by the new Chancellor of the Exchequer and former transport and foreign secretary, Philip Hammond, since he succeeded George Osborne in July.
The first significant series of Government financial announcements since the UK’s vote to leave the European Union, matters affected by Brexit are expected to feature heavily, and Hammond has already hinted at plans to create leeway for the Government to take action to support the economy during the fallout of the referendum result.
November’s announcements could also herald a number of key announcements for the fleet sector, as further clarity is expected regarding company car benefit in kind tax rates into the 2020s.
The Autumn Statement also follows a series of HMRC consultations on lease accounting rules, salary sacrifice schemes and company car tax treatment of ultra-low emission vehicles. The consultations were launched in August and HMRC and HM Treasury appealed to specialists within the fleet sector to share their views and opinions.
BusinessCar will be reporting live online on all of the announcements that impact the UK fleet and leasing industry along with updates that will have a wider economic effect.
