| EMPLOYEE BENEFITS |
Businesses urged to make company car policies more flexible
How should HR and reward professionals deal with the new tax measures for company cars? On the face of it, the solution is simple — it's all down to choice, says Human Resources.
All too many human resource departments are either unaware of the looming changes to the company car tax regime — or don't know how to react. It is important that they get to grips with the scheme now so that they know who will benefit and who will lose out, says Steve Fowler, writing in the October 2001 issue of the magazine.
Flexibility is the key
According to the experts interviewed by Fowler, flexibility is the key to keeping company car drivers happy. This means not only ensuring employees have a full choice of options, but also giving them the opportunity to trade down into smaller cars. And if cash is to be offered as an alternative, it has to be a realistic figure .
What's more, some drivers faced with a large tax hike may need to be compensated.
Want to know more?
Title: Cars: The taxman cometh , by Steve Fowler, Human Resources, October 2001.
Availability: Contact Human Resources subscriptions in London, tel: 020 8606 7500.
Take a look at the magazine's new web site — see what you think . . .
Posted 18 October 2001