CAP warns of Child Benefit loss threat to company car drivers
THOUSANDS of company car drivers will lose Child Benefit payments worth thousands of pounds when changes to tax rules push them into the 40% tax bracket according to CAP, the car price experts. The problem – which will cost an affected company car driver with 3 children almost £2,500 a year – lies in a succession of forthcoming tax rule changes, beginning this April. From April of this year the amount of taxable income before which the 40% bracket is reached falls from £37,400 to £35,000. As widely reported in recent weeks, this change will significantly increase the number of higher rate