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NFDA BUDGET SUBMISSIONBack

nfda-logoThe National Franchised Dealers Association (NFDA) has raised their issues with the HM Treasury concerning franchised dealers in their 2016 Budget submission.

These include:

  • Dealer members have raised concerns into the cost of compliance and regulation with the FCA, and the limited access to help and guidance materials available.
  • The NFDA is concerned that the new pension and living wage will incur costs to businesses.
  • The NFDA urges the Government to revisit the planned relaxation of the 3% diesel surcharge for Benefit in Kind (BIK) purposes, and in addition has asked the Government to ensure that the company car tax rates are delivered four or more years in advance. This follows concerns from NFDA members that the rates of company car tax post 2019 have still not been set.
  • The NFDA has raised concerns that if the proposed MOT testing period is extended to four years for new cars and motorbikes, it will result in a rise in road accidents and fatalities.

In an industry which accounts for 4% of the UK’s GDP, and employs approximately 770,000 people – with 506,000 directly employed in the retail sector, it is vital that the treasury acknowledges our concerns and develops policies which will sustain growth and aid business development and investment.

The NFDA looks forward to the Budget Statement next month and hopes that the issues highlighted will be acknowledged.

Please click here to download a copy of the NFDA 2016 Budget Submission

Posted by Sue Robinson on 05/02/2016