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Money being no object, which motor sport would you be involved in?
Formula 1
8%
Touring Car
15%
Rallying
33%
Indy Car
0%
Hill Rallying / Comp. Seffary
10%
Karting
1%
Motorbike F1
4%
Rally Cross
13%
Freestyle
1%
Something Compleatly Diffrent (Please tell us what, add comment).
14%
Total votes: 91
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Legal Clarification Of Usage Of Bio-Fuels
Following much confusion, and many questions asked about this subject, I feel it prudent to clarify the situation as Revenue and Customs advice posted is unclear.
PRIVATE USERS are allowed 2500 litres per year of tax free fuel PER VEHICLE; this may come from an individual machine, or several people may form a cartel or a co-operative and all share one machine. Ten users sharing a single machine will be allowed to produce 25,000 litres of bio-fuel per annum, but no single vehicle will be allowed to use more than 2,500 litres, tax free per annum.
Records must be maintained by EACH INDIVIDUAL USER as to the amount of fuel they use in each vehicle.
COMMERCIAL USERS (companies) must have a machine for each vehicle, several vehicles CANNOT share a single machine, unlike private users. A single fleet of 10 vehicles will require 10 machines, each machine is allowed to produce 2,500 litres per annum tax free.
Records are legally required to be kept per machine and per vehicle.
Submitted by assassin on Fri, 13/06/2008 - 01:37.
Bio Fuel Taxation
I wonder how long the Tax free 2500 ltrs will survive before Gay Gordon starts to tax it.
An observation only but, the system seems very unfair on commercial users and bearing in mind that the cost of commecial usage hits us all in the pocket. I would have thought this Green loving Labour party would have been more generous...tut tut how silly am I? them reduce the tax burden on Commercial users or any users, what must I be thinking of?
Too much Sun has softened my brain. If we get too much Sun this summer no doubt he will roll out some way of taxing that.
OLDMINIMAN
Quote: I wonder how long
Don't forget that the 2500 litre allowance was introduced by Gordon Brown while he was Chancellor. He's not going to give with one hand and take away with the other... is he?
Oops. 10p income tax band. Correct me if i'm wrong, but was it not Brown that introduced that?
Cheers
Peter
Tax - Tacks - Brass Tacks - Or Brass from Tax
Tax free fuel is currently available until 2010, but like most things with this Government, is liable to change.