Benefit in kind - advantages for businesses
Opting to hire an electric company car for your business is good for the environment. In addition, the fact your business is trying to reduce its carbon footprint and environmental impact can only be a good thing. Customers and clients are increasingly anxious to work with other businesses who share the same “green” ambitions as them. Switching your business car or fleet could make a big difference.
Additionally, the Benefit in Kind (BiK) tax rate reducing even further for EVs (down to 0%, actually), there’s never been a better time to hire an electric company car. The zero percent BiK rate represents a huge saving. In comparison some of the BiK rates for petrol and diesel vehicles can run as high as 27%.
Employee advantages when you hire an electric company car in the Tax year 2020/21:
- No Benefit-in-Kind Tax
- Free Charging (subject to limitation)
- Free Tyre Replacement
- No London Congestion Charge or ULEZ Charge
- Full Maintenance Included
- Free Charge Point (subject to length of hire)
- Unlimited Mileage (subject to fair usage policy)
- No Car-Fuel Benefit Charge
Employer Advantages in the Tax year 2020/21:
- Salary Sacrifice Allowed
- 50% VAT Reclaim
- Very Flexible Terms with no Deposit
- Upgrade or Downgrade your Fleet at Anytime
Advantages of Driving Electric Company Cars:
- Big Savings on Fuel Costs – While EV charging costs continue to go down, the running costs of petrol or diesel cars will continue to rise.
- Free Parking in some locations
- Less air and noise pollution
- Electric Vehicles are safer to drive
- Drive the future of motoring
- EVs are fun, quick and easy to drive!