Thoughts on getting an electric vehicle as a company car?
Am at the point where I've maxed my dividends already for the current tax year, so aside from pension contributions, looking for other productive ways of using the money accumulating in the company accounts (as well as reducing CT liability).
Normally company cars are bad, I know, due to the hefty BIK implications. However until April, fully electric vehicles attract 0% BIK, rising to 5% for 2016/17, then 7% and 9% the following years (as I understand it). This makes an EV quite an attractive option IMO so just wondering who's taken the plunge on this already, or considering it, and any pros/cons to be aware of?
As I understand it there is 100% capital allowance as well so the only cost to me personally will be the small BIK % from next tax year onwards.