§ Mr. BercowTo ask the Chancellor of the Exchequer what assessment he has made of the total cost to business that will result from the changes to company car tax from April 2002. [14391]
§ Mr. BoatengThe Inland Revenue estimates that employers will pay around £25 million less in national insurance contributions over the first three years of the new system as a result of the reforms to company car tax.
The Inland Revenue also estimates that employers will save around £20 million per year in recurring compliance costs as a result of the reforms. A Regulatory Impact Assessment document looking in detail at the impacts of the company car tax changes on employers' compliance costs is on the Inland Revenue's website.