Business fuel card users have been advised that companies which lease cars may be overpaying on their VAT">
e-Services Login
forgotten your password?

News Categories

previous page

Business fuel card news: Companies leasing cars 'overpaying on VAT'

23 July, 10
Business fuel card users have been advised that companies which lease cars may be overpaying on their VAT.

Such companies are allowed to claim back 50 per cent of the VAT part of the finance element of their rental payments.

But the British Vehicle Rental and Leasing Association (BVRLA) has conducted research which suggests that not enough businesses are recovering what they can claim.

It estimated that as much as £288 million a year is being overpaid in VAT as a result.

The BVRLA called on HM Revenue and Customs to up the 50 per cent rate ahead of the planned rise in VAT to 20 per cent.

BVRLA chief executive John Lewis said: "There is nothing we can do to prevent VAT rising to 20 per cent in January, but we will do our utmost to ensure that leasing customers are treated fairly."

Last month, Lyall Cresswell, managing director of the Transport Exchange Group, told Materials Handling World Magazine that increasing fuel prices are hitting profits in the haulage industry.

Improve the efficiency of your business and your fleet with the business fuel card

Posted by Tammy Brooks
 ADNFCR-2675-ID-800004836-ADNFCR
Business fuel card news: Companies leasing cars 'overpaying on VAT'



e-Services

With your Fuel Card account you can apply for access to our
online management system free of charge. This allows users to do the following:


  • Access account online 24/7
  • Stop cards
  • Order new cards
  • View transactional data
  • Receive invoices and statements via e-mail