All You need To Know About The New HGV Levy
Earlier this year, the government put through a motion in an attempt to phase out more polluting Lorries. The new HGV Levy-which applies to 12 tonne lorries or more- acts as an incentive to HGV operators to make the change to Euro 6 Trucks by the 1st February 2019. It rewards those that comply with a 10% reduction of usual Levy fees. Failure to conform to the new standards will result in a 20% tax hike, meaning that some businesses may have to increase their daily expenditure by up to 25%.
As you can imagine there is a general divide of opinions. The Road Haulage Association (RHA) have stated that once again, this shows the governments’ indifference to changes that have already been implemented within the haulage industry. Figures show that there has been a 43% decrease in Nitrous Oxide within the last 5 years. Furthermore, the RHA have voiced further concerns over whether this directly punishes small to medium sized haulage businesses. The short turn around for compliance makes it almost impossible for smaller businesses to invest in a new fleet within 12 months of notice.
Whilst the early introduction of ‘Clean Air Zones’ means that cities and towns will benefit from less pollution, it is easy to question who is looking out for smaller haulage businesses that the supply-chain depend on.
We provide finance solutions so that you can keep your business on the move.
At Chatsbrook, we provide a tailored service so that all of your requirements are met. The new HGV levy causes a predicament, but with our expertise we can source a range of financial solutions so that you can overcome this hurdle and continue your operational growth and expansion.
Whether you are interested in a bespoke finance package to change a truck, or if you would like a business loan to invest in a complete overhaul of Euro 6 Trucks, we can conserve your cash flow and give advice on the best option to suit you.
Our only aim is to build long-term relationships with our clients; our finance solutions support your business, so it can flourish in the face of adversity.
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