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Finance Benefits of Fully Electric Vehicles.

Lower 'fuel' cost

EV's cost around £3-£5 per 100 miles - compared to £13 - £16 for combustion engines

Cheaper travel in Central London

EV's are exempt from London's congestion charge and ULEZ charge. Saving £27.50 per day.

Less maintenance costs

Less moving parts and no need for oil changes

Low Benefit in Kind (BiK) rate

1% for 2021/2022 financial year and 2% 2022/2023 financial year

100% allowance against corporation tax in the year of purchase.

(Outright ownership) compared to 6% or 18% (depending on CO2)

Exemption from Road Tax

Ethos

Goverment Grants & Initiatives

Cars/Taxis

• Grant of up to £2,500 for purchases of new and approved low emission cars. Cars must cost less than £35,000.

• Up to £7,500 in grants for purpose-built, low emission taxis - Dynamo and LEVC.

• Cars and Taxis must have a CO2 emission of less than 50g/km and can travel at least 70 miles without any emissions at all.

Vans

35% of purchase price up to £3,000 for small vans <2.5 tonnes of gross vehicle weight (t GVW) and 35% of purchase price up to £6,000 for large vans 5-3.5t GVW.

• Eligible vans have CO2 emissions of less than 50g/km

• Eligible vans can travel at least 96km (60 miles) without any emissions at all.

Capital Allowances

• 100% allowance against corporation tax in the year of purchase. (Outright ownership)

• Inclusion of vehicle running expenses such as electric charge, insurance, repairs under allowable company expenses.

• Purchase the car out of pre-taxed income rather than post-taxed income.

Build your next ev

Save £60 per year on Tax Returns with Eazitax
when you finance a car with The Electric Broker.

Pay just £25 per month for the first year.

  • Tax returns where you call the shots.
    Choose from simple weekly sheets, online forms or our super easy expenses app.
  • Unlimited advice and support over the phone, in person, live chat or through email.
  • A team waiting to help you through HMRC or tax troubles.
  • A tax return prepared and submitted on your behalf to the HMRC.
  • Peace of mind that the taxman is happy and your bank balance is too.
  • Making Tax Digital is coming, don't worry we will take the strain for you.