article_snippet: ’ Company cars take a clobbering .
article_snippet: The majority of drivers with company cars will be hundreds of pounds worse off after the Chancellor moved to make the work perk
article_snippet: City accountants said the changes are unfair on company car drivers locked into three or four-year deals who chose a cheaper vehicle
article_snippet: ‘in good faith’ – only to have it re-classified months later as a gas-guzzler, and taxed accordingly.
article_snippet: Deloitte stressed that because most company car drivers are signed up to three or four-year deals, Deloitte will be penalised for choices made well before the changes were introduced.
article_snippet: ‘Many employees with company cars will be locked into long term deals and will have no choice but to bear the ever-increasing cost of company car tax.
article_snippet: The changes mean a driver paying the 40p tax rate with a £28,000 1.6-litre Nissan Qashqai provided by their employer will be £1,008 worse off after five years, with a ‘benefit in kind’ tax bill of £3,360.