2019 will usher in a myriad of laws changes that will affect drivers and businesses around the UK.
At 23:59 on the 31st of December 2018, Glasgow’s Low Emission Zone will come to effect. A report was discussed by the Environment, Sustainability and Carbon Reduction City Policy Committee in March and the plan is to make all vehicles entering the zone compliant by the of 2022.
Smart tachographs will be introduced in June and will be fitted GNSS (global navigation satellite system) which allows vehicles and drivers to be tracked easier. The devices can also be accessed remotely which makes it harder for any kind of data manipulation. The new security regulations are reaction to flaws in the current system and are designed to tackle fraud and promote safety.
In a bid to improve air quality, an Ultra Low Emission Zone (ULEZ) will be in place in central London from 8 April 2019. Vehicles travelling in the area must meet emissions standards or pay a daily charge of £12.50. The charge will be in addition to the weekday Congestion Charge and the Low Emission Zone (LEZ) charge. The fine for not paying the charge is £160.
A new testing regime is due to start in 2019. Chancellor Phillip Hammond hopes that easing laws that allow fully autonomous (without human passenger) cars on public roads will catapult Britain as world leader in the burgeoning industry. The changes to the Road Traffic Act will see major car manufacturers and tech companies use the streets of the UK to develop new technologies.
From January the 1st, All business lease vehicles will be affected by the International Accounting Standards Board’s (IASB) and Financial Accounting Standards Board’s (FASB) IFRS 16. IFRS 16 is aimed to ensure that assets and liabilities which arise from nearly all lease contracts are recognised in financial accounts for companies. In the past, only financial leases have been reported on the balance sheet, not operating leases. Companies which lease vehicles should start analysing the impact these new leasing regulations could have on their business before these changes come into effect. The changes affect many financial metrics, raise gearing and capital ratios, and change debt to equity relationships.