29/06/2022
🏎️🤫 You’ve probably heard the quiet buzz of an electrical car around the streets. Despite being a more eco-friendly alternative to regular cars, they also tend to have lower running costs, but did you know why companies should invest in (EVs)?
- There are funding and grants available that make it cheaper to purchase vehicles.
- Grants of up to ÂŁ1,500 are available for electric cars priced under ÂŁ32,000.
- Grants are available of up to ÂŁ5,000 for large vans and ÂŁ2,500 for small vans.
- You can claim the total cost of purchasing an EV against taxable profits, lowering the amount of tax you need to pay.
- Tax exemptions from van benefit charge, fuel duty, company car tax, vehicle excise duty, fuel benefit charge.
On a side note, be aware that to be eligible for the grant, you must purchase a government approved vehicle, so please check before hand.
If you’re thinking of buying an through your company and have questions, please don’t hesitate to reach out.
Considering buying a car? Will you be using that car for work? Maybe you should consider buying an electric vehicle through your business and get tax benefits.
