New higher rate taxpayers face company car nightmare

Nic Cackett

Company car drivers could see their benefit in kind payments sharply increase from April if they're unlucky enough to fall into the new threshold for higher rate taxpayers.

The government is lowering the amount at which the 40 per cent tax rate is paid from £43,875 to £42,475 which should see around 750,000 of the nation's employees dragged into the higher band on April 6.