Company cars cruising through Budget
Article Abstract:
The UK's 1992 Budget introduced several measures that are projected to benefit the automobile industry in general, and company car buyers in particular. Under the new budget, the special car tax is reduced from 10% to 5%, company car scale charges are increased according to inflation, and the 8,000 writing down allowance for company cars is raised by 50%. The 1992 Budget also allows businesses, such as self-drive car hire, driving schools and taxi operators, to recover value-added tax on the purchase of new automobiles starting on Aug 1, 1992. Another significant provision of the Budget is the lower fuel scale charges for diesel engined vehicles to encourage the use of automobiles that are more fuel efficient and less polluting. In addition to these measures, the Chancellor is also recommending that the taxation of company cars be based on car price instead of on engine size/price bands.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1992
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Ringing the alarm on soaring car crime
Article Abstract:
Automobile crime in the UK has risen to such proportions that the government was compelled to declare 1992 as Car Crime Prevention Year. Car crime was estimated to occur every 25 seconds. In 1991, 575,000 cars were stolen and 889,000 were broken into. Automobile crime costs an estimated 1.2 billion pounds sterling annually. A major reason for the prevalence of car crime is that around 30% of car owners forget to lock their cars and 70% of cars do not have any security systems at all. The government has asked for tax cuts on car security equipment so that buyers can afford them. Automobile insurance companies have also joined the drive for car theft prevention by including car security as part of insurance risk evaluation.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1992
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Seeing green
Article Abstract:
The 29th Tokyo Motor Show featured cars with energy-efficient body construction, environmentally friendly engines and technologically advanced safety and security features. The innovativeness of the Japanese car makers was evident in the light body construction of Mazda Motor Corp's RX-7 sports car. Mazda also introduced its HR-X model, which featured a hydrogen rotary engine and four-speed automatic transmission. Among the foreign car manufacturers, Audi AG's concept car Avus Quattro was a remarkable example of automobile engineering. This 29th Tokyo Motor Show featured a total of 189 Japanese cars and 194 foreign cars.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1992
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