In our October 2016 newsletter we explained how the delivery of apprenticeships in the UK is changing. Groups of employers (trailblazers) are now able to develop their own apprenticeship standards, allowing them to set out the skills and competencies required by apprentices working in their industry – just like the Motor Finance Specialist Standard will do for the automotive sector.
The FCA have delayed a decision on whether to introduce a two-year deadline for PPI complaints until some point in Q1 2017. We understand this is due to concerns about resources – both within the FCA and firms – as a decision to go ahead with the deadline would require significant input from both the regulator and industry.
The Government have introduced draft legislation to the Finance Bill 2017 which will require changes to how VAT tax relief is applied to vehicles adapted for wheelchair users from 1st April 2017.
Failure to secure tariff-free access to European Union markets following Brexit could cost the British automotive industry as much as £4.5 billion (€5.3 billion) pounds annually, according to estimates from the Society of Motor Manufacturers and Traders (SMMT).
Electric vehicles (EVs) will have the same total cost of ownership (TCO) as an equivalent petrol model by 2024, new research claims. However, Autovista Intelligence analysis suggests that some plug-in models are already cheaper to operate than their diesel and petrol counterparts.
An update on FCA activity in Q3 2016.
The Finance & Leasing Association (FLA) has won Government approval to develop a Motor Finance Specialist apprenticeship standard for the motor finance industry.
If you’ve already passed the SAF test, then progressing to SAF Advanced is a good way to develop your career with a more detailed understanding of motor finance products and the regulatory framework underpinning the market.
HM Revenue and Customs has consulted on proposals which seek to limit the range of benefits in kind that attract tax and National Insurance (NI) contributions advantages for employers and employees.
New users will soon receive instructions on how they can take their SAF test when they register. Administrators registering their company’s details will also be sent a new guide, explaining how to manage their firm’s account and detailing the various features available to them.