Company Car

The Rise of Electric Vehicles: Tax Benefits and Considerations

July 6, 2024

The Rise of Electric Vehicles: Tax Benefits and Considerations   As businesses increasingly turn to sustainable practices, electric vehicles (EVs) have become a focal point. This article explores the tax benefits and considerations for businesses investing in EVs. The shift towards electric vehicles is not just about environmental responsibility; it also offers significant financial and

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The value of a company car

April 24, 2024

Due to the significant impact of cars on the environment, special tax regulations are implemented to manage their ecological footprint. These policies include road tax exemptions for electric vehicles (EVs) and increased business allowances for low CO2 emission cars, aiming to incentivize eco-friendly investments. When employees use their personal vehicles for work-related tasks, they can

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Electric delivery van with electric vehicles charging station

Time to go electric? (continued)

September 21, 2023

Vans Vans are treated as normal plant and machinery, so are eligible for the 100% AIA on purchase. They also have much lower benefit-in-kind charges than most cars where the employee or director has private use, being (for 2023/24): • Nil for an electric van • £3,960 for any other van. If private fuel is

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Power supply connected to electric vehicle charge battery. EV charging station for electric car or Plug-in hybrid car. Automotive innovation and technology concepts. Generative Ai

Time to go electric?

September 21, 2023

Electric cars In his March Budget, the Chancellor announced the introduction of “full expensing”, i.e. allowing most plant and machinery purchases to be allowable fully for tax purposes in the year of acquisition. This was really aimed at encouraging investment by big companies, as most small companies would in any case get immediate full tax

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Ev are still tax effcient

Electric vehicles are still tax-efficient

February 5, 2023

The taxable benefit for using an electric company car for private journeys is currently calculated at 2% of its list price. If you chose a hybrid company car, models that can drive at least 130 miles on electric power also currently carry a taxable benefit of just 2% of list price. However, these benefit levels

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Accountant Employee benefits

Helping your employees

June 26, 2022

The cost of living crisis is hitting everyone, including small businesses. You are required to raise the wage rates of employees on the National Minimum Wage by 6.6% for pay periods starting from 1 April 2022, but some employees may still be struggling to make ends meet. Here are a few things your business could do

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electric company car

Excited about electrics

December 7, 2021

Excited about electrics electric company car The taxable benefit for having the private use of an electric company car is currently just 1% of list price. From 6 April 2022 the taxable benefit will rise to 2% of list price. It will then be fixed at that level until April 2025. However, even at 2%

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electric company car

Electric cars and vans

October 13, 2021

Electric cars and vans  Now could be a good time for your company to invest in an electric car or van, as there are generous tax reliefs available. A purely electric car qualifies for a 100% first year allowance (FYA) if it is acquired before 1 April 2025. This means that it is deductible fully

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company car tax

Company cars – lots of changes!

May 17, 2021

Take extra care when reporting company cars on Form P11D over the coming weeks. For 2020/21, there were significant changes to the percentages that need to be applied to the list price of a car when calculating a benefit, namely: Electric cars now have a zero benefit The percentage for cars up to 50g/km of

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