2 Apr 2013The launch of TCH X Lease in Derby
We are delighted to announce that we have now opened our new second TCH X Lease location in Derby. In order to continue delivering a better level of service to our customer, we have also launched a dedicated new X Lease website. More information about our new Derby site along with a wider range of vehicles are available online at http://www.tchxlease.co.uk|
29 Mar 2013Legoland competition winner
The winner of our Legoland Windsor competition in conjunction with the Alfa Romeo Giulietta is John Jodrell from Streetcrane Limited. Congratulations John.
17 Jan 2013Important changes from 1st April 2013
From 1st April 2013 changes to government taxation policy in the area of Capital Allowances will see Contract Hire rentals increase on some vehicles delivered after this date. Currently, Capital Allowances allow a percentage of the cost of an asset to be claimed as an expense against profits for corporation tax over a period of time.
Since 2009, for vehicles emitting CO2 below 110g/km, leasing companies have been able to claim the full cost against their taxable profits in the first year of ownership, significantly reducing rentals. However from the 1st April 2013 leased business cars in this category will no longer be eligible for the first year allowance and subsequently we will see an increase in leasing rentals for such vehicles delivered after this date.
In addition, the upper limits of the lower and medium CO2 bands are being lowered to 95 g/km for low CO2 vehicles and 130 g/km for medium band cars. There will consequently be fewer vehicles eligible for advantageous capital allowances for businesses considering outright purchase of their company vehicles and some vehicles will move into the higher band and contract hire rentals will increase.
If your organisation has vehicles due for replacement in the early part of 2013 it would be advisable to talk to TCH Leasing to see whether we can locate and secure the required replacement for delivery before the end of March 2013 deadline.
14 Aug 2012Salary Sacrifice Interest Grows
TCH Leasing’s Salary Sacrifice product ‘Colleague Cars’ continues to grow as more clients recognise the advantage of offering their employees an additional benefit with none of the normal associated costs.
The scheme allows an employee to surrender a portion of their gross salary before statutory deductions for a non-cash type benefit, in this case a car, providing savings on both income tax and national insurance contributions. Although the employee will attract a benefit in kind charge this is more than offset by the tax and NI savings with lower polluting cars, typically sub 120g/km providing the most savings.
Recently, TCH Leasing added a risk deduction element to the scheme that provides employers with an element of payment protection cover when an employee is on long term maternity or sick leave and also has a provision for redundancy. Head of Sales, Ken Buckley commented “since introducing a risk mitigation provision clients have been signing up to the scheme in increasing numbers and I’m confident that this innovative product will continue to go from strength to strength over the coming years.”
Regardless of employee numbers why not investigate how you could offer them one of the most sought after benefits ‘a company car’ at no cost to the company. For more information e-mail us at email@example.com and a member of our team will contact you.
29 May 2012Lexus CT 200h
The official launch of the CT200h last year at the Paris Auto Show gave numerous clues as to what Lexus had in mind for the car.
The Lexus CT Hybrid is also called 2011 Lexus CT 200h as the letters CT stands for comfort touring. It is a beautiful car with lots of high-tech features. As the name suggests, it is a highly fuel efficient car but with a switch of a button you can change your setting to a less economical sports mode.
The Lexus CT Hybrid uses a 1.8-litre four-cylinder petrol engine providing 134 horsepower. It can also reach zero to sixty in 10.4 seconds with an electronically controlled continuously variable transmission (CVT). The nickel-metal-hydride battery pack below the rear seat stores charge accumulated from vehicle braking and uses its energy to drive the electric motor. The Lexus CT 200h consumes 4.1 litres/100km of premium unleaded fuel on the combined cycle and emits 94g/km CO2.
Under its five-door hatchback skin, the CT 200h is a close cousin of the Prius hybrid, produced by parent company Toyota. This Lexus is the first premium-badged full hybrid of its size from any car company. Like the Prius, the CT 200h has a 1.8 litre, 98 bhp petrol engine which works on the Atkinson cycle, using a modified combustion process optimised for economy. It works in harness with an 81 bhp electric motor mounted at the rear, and there is a battery pack located under the boot floor.
With emissions below 100 g/km the CT 200h is congestion charge exempt, and in the lowest category for company car taxation, with 10 per cent BIK.
• 10% BIK – Impressive net tax savings to employees
• 68.9mpg – Saving on fuel costs (diesel economy-petrol prices and performance)
• CO2 94 g/km
• Zero road tax
• 100% write-down allowance savings in year one
• Employers national insurance savings
• Congestion charge exempt