Fleet Handbook United Kingdom
- Fleet Management
- Contract hire
- Contract purchase
- Sales and leaseback
- Finance lease
- Employee car ownership (ECO)
- Affinity schemes
- Commercial vehicles
- AlphaCity Corporate CarSharing
- AlphaRent (long and short term rental services)
Fleet Management, service, maintenance and repair, tyre management, roadside assistance, fleet consultancy, accident management, driver risk management and insurance management.
The registration document (V5) refers to the current registered keeper, who is not necessarily the legal owner of the vehicle. Under contract hire, the title remains with Alphabet, and at no stage can the customer acquire the title. Under contract purchase, the customer has the option of acquiring the title at the end of the agreement. Under ECO, the title is with the employee from the outset.
International agreements provide for temporary use of a vehicle in a foreign country for a limited time (usually six months in a 12-month period). A visitor to the UK may use a vehicle displaying foreign plates, provided that all taxes (including vehicle excise duty) are paid in the applicable country of origin.
For foreign travel, where Alphabet holds the original registration document, the customer applies for a VE103 certificate as a substitute.
The title is assigned according to the funding method. The customer may request a change of registration number for a small fee.
Cars are usually registered approximately 24 hours prior to delivery. On average, cars are delivered 3-5 months after the order is placed.
The current VAT rate is 20%.
- Vehicle excise duty
The vehicle excise duty (VED) varies according to the car’s CO2 emissions. You can calculate VED here:
- Registration fee
When registering a new car for the first time, a registration fee of GBP 55,00. is due.
Under current legislation, with contract hire the customer is able to recover up to 50% of the VAT levied on the finance element of the monthly rental, assuming they are VAT-registered. Where other VAT-applicable services are provided (e.g. maintenance), a VAT-registered customer can recover up to 100% of VAT.
Under current legislation, monthly lease payments are treated as operating expenses and accounted for in the company’s profit and loss account. The asset (the leased vehicle) is capitalised on the books of the lessor (the leasing company).
Please see ‘www.hmrc.gov.uk’ for the latest Car and Van Tax Guide.
Company car tax is payable on a percentage of the total P11d value (list price) of your car. The percentage is determined based on the emissions of the car.
Alphabet (GB) Limited
A BMW Group Company
International Corporate Sales
|Phone:||+44 370 50 50 100|
Latest update: November 2018