All articles by Jo Tacon
Jo Tacon
Fuel costs drive falling mileages
Fuel costs drive falling mileages The most recent quarterly Company Car Trends survey by GE Capital Solutions, Fleet Services has found that the annual mileage driven by users of company cars is falling – but that take-up rates of employer-provided car schemes are rising. In all, nearly three-quarters (72.4 per cent) of fleet decision makers surveyed by GE Fleet said they expected demand for company cars to rise in the next 12 months.
MD leaves as funder stops all non-motor lending
MD leaves as funder stops all non-motor lending The managing director of The Funding Corporation (TFC), Jim Rowley, has left the company which he co-founded The independent finance house, which previously offered asset finance and block discounting services to corporate clients, is believed to have shut its doors to all new non-motor business entirely
Paragon Car Finance shuts its doors
Motor finance house Paragon Car Finance has withdrawn from UK auto lending, it announced A spokesperson for Paragon Car Finance, part of the Paragon Group, said: “As part of a restructuring programme, Paragon Car Finance is withdrawing from the car finance market. This has been a very difficult decision for the group to make; however, the ongoing lack of liquidity in financial markets, allied with reduced activity in consumer finance spending, have been the main drivers of this decision.”
ReMIT returns following Carter & Carter collapse
The Retail Motor Industry Federation (RMIF) has bought back some parts of the ReMIT training business from the administrators of Carter & Carter Group, which collapsed following the death of its founder and chief executive Philip Carter in a helicopter crash in May 2007 The RMIF said: The administrators of Carter & Carter Group plc have agreed to transfer the provision of non-manufacturer apprenticeship programmes to the RMIF. The RMIF deal team has been working very closely with the Carter & Carter Administrators, the Learning and Skills Council (LSC) and other government training agencies to secure future training provision for approximately 2,700 learners across England, Scotland and Wales.
Join the club?
Marked as For car club use only, or similar, on quiet residential streets, along busy thoroughfares, or tucked away in corners of car parks, they are an outward sign of the car clubs which have begun to colonise London, and which are steadily growing their network across the UK.
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More reassurance on capital allowances
The fleet leasing industry has been reassured that changes to capital allowances from April 1 2009 will not be applied retrospectively to business vehicles acquired before that date. In a meeting with HM Treasury, the BVRLA and ACFO received confirmation that the new regime will apply only to all qualifying expenditure incurred on or after April 1 2009 In the associations view, and in the view of accountancy firm PricewaterhouseCoopers, which advises the BVRLA on tax matters, the crucial word expenditure can only refer to an asset being acquired, not the ongoing depreciation of a previously acquired asset