Guidelines recommended by HM Revenue & Customs (HMRC) as fuel-only mileage rates for business travel in company cars. The rates apply where employers reimburse employees for business travel in the [..]

An arrangement aimed at helping staff buy cars for their own use. Employers use volume discounts to purchase cars that are then sold or leased to staff at competitive rates. Staff can usually also cho [..]

An Aecop allows all employees who are not entitled to a company car of any description to purchase a vehicle at a discounted rate. An all employee car ownership plan usually favours larger companies w [..]

A range of low-emission energy sources to petrol and diesel for passenger cars and commercial vehicles. Includes as bio-diesel, bio-ethanol, fuel cells, hydrogen and liquid petroleum gas (LPG).

The amount an employee is required to pay as a condition of the car being available for private use. This is deducted from the taxable benefit for the year in which the payments were made (see Benefit [..]

An employee who uses their own car for business use may receive a mileage allowance from their employer, expressed as a rate per business mile. The Inland Revenue allows up to a certain level of allow [..]

A large final payment under a finance agreement normally in line with the predicted value of the car.

British Vehicle Rental & Leasing Association (BVRLA) is the professional association for providers of vehicle rental, leasing and fleet management services for passenger and commercial vehicles.

A statutory tax deduction for depreciation. The allowance is given annually and is 25% of the written down allowance, this is restricted to £3,000 per expensive car. With leased vehicles, the fleet ma [..]

A car that costs less than £12,000 for tax purposes (see also Expensive Car).