Solutions for E-Mobility
Electric Vehicles ie Hybrid (PHEV) or Battery (BEV) offer multiple advantages to your business. Reduced fuel & maintenance costs, lower carbon footprint & employee retention.
View our Actemium EV video where we talk about what government incentives are currently available for switching to an Electric Fleet.
As a “real-world” example Actemium Business Unit Manager – Nick Chambers compared his current Company Car vs Electric Vehicle options. This was in terms of savings to the Business and also to him personally for BIK.
Enhanced Capital Allowances (ECA’s)– enables 100% write off for the installation & equipment cost against corporation tax in the first year. An ECA allows a business to write off the whole cost of an asset against taxable profits in the year of purchase. More information can be found on the Gov.uk website.
- It was announced within the Autumn Budget 2017 that the FYA for both ZERO Emission goods vehicles and gas refuelling equipment will be extended to March/April 2021.
- A current list of tax exemptions available can be checked on the Office for Low Emission Vehicles (Department of Transport) website.
- For more detailed tax benefits for ultra-low emission vehicles click here.
BIK & Salary Sacrifice
From 2018, with zero rate of Benefit-in-Kind (BIK) tax for utilising Employer Electricity at the Workplace, the company car driver is financially incentivised. By encouraging employees to adopt EV driving for their daily commute, they would benefit from reduced (private & business) fuel cost and potentially FREE charging at work. Refer to useful links below and talk to your employer about applicable schemes.