Electric car through Ltd?

[ChimpMaster]

So really overall it doesn't look like it's worth getting the Tesla S through the company.

It sounds a heck of lot easier to just play out my medium term goal of MVL and retirement from contracting, then buy the car from post-tax distribution.

[MarillionFan]

Good thread.

As an addition to this, how many of you actually have a car through the Ltd and pay the BIK?

[Bee]

In the UK, do you have a tax discount if you buy something friend to the environment? Like electric cars, solar panel etc...

[SueEllen]

In the UK, do you have a tax discount if you buy something friend to the environment? Like electric cars, solar panel etc...

It depends what it is and how you buy it. Also the tax discounts can change overnight depending on the whims of the chancellor.

[oliverson]

Resurrecting this thread as it's pretty clear electric vehicles are going to be hot in 2018 (and even hotter each subsequent year) - no pun intended.

The majority of this thread is a year old and so I'm wondering what current thinking is? I'm driving a 7 year old Audi right now and just had it MOT'd, which because of the time of year proved to be a royal pain. Kind of thinking why I'm doing this when I'm earning a decent wedge. Perhaps the company buying a new electric/hybrid company car and me paying a nominal BIK might be a better alternative?

[stek]

Resurrecting this thread as it's pretty clear electric vehicles are going to be hot in 2018 (and even hotter each subsequent year) - no pun intended.

The majority of this thread is a year old and so I'm wondering what current thinking is? I'm driving a 7 year old Audi right now and just had it MOT'd, which because of the time of year proved to be a royal pain. Kind of thinking why I'm doing this when I'm earning a decent wedge. Perhaps the company buying a new electric/hybrid company car and me paying a nominal BIK might be a better alternative?

My feeling is the tide is already flowing the wrong way, hybrids etc seem to be taxed more, as in Denmark - when I was there the Tesla was tax free (normally 180%) - then they saw the dropping revenue and taxed them at 20% for year one - no doubt as tax revenues drop, taxation will be imposed/increased.

Let's not assume electric cars are environmentally friendly, they are from the car itself, but the pollution is just concentrated elsewhere - ie the nominally coal-fired electricity generating station, nuclear or wind/wave/hydro if it ever really takes over. Or we let the third world generate it in their backyard and until it gets to be a world problem which it already, or isn't if you are Trump.

I'm happy with £235 pa on my 4.2 litre V8!

[Lance]

Th chancellor said something about no BIK for electric cars charged at place of work. Has this become real in the finance bill? And if so is ‘place of work’ defined?

[94bb]

2019 electric car and new BIK

There has been lots of threads on electric cars, but none seems to apply the tasty 2020 BIK incentive. If I’ve been a bit thick and missed a relevant thread citing this specific example please point me in the right direction.

I understand for electric cars you no longer have to stipulate the number of business miles vs personal miles you, thus making it opaque on the business / personal mix.

A lot of people here in the past have turned up their noses at EV due to the poor choices available, however a certain British / Indian manufacturer makes a viable family car option, without the unimaginative American Tesla styling.

If such a purchase was made for £60k, and I aim to use it 80% for business 20% for personal, how is the tax calculated...is it just a flat BIK of 2%? Is the VAT and Corp tax a write down?

Do I get access to the new government grant for a further discount on the vehicle?

Is the charging station I install tax deductible also?

If I sell the car in 4 years for £30k, does £6k need to be paid as Corp tax?

Thank you for your patience, and I do apologise if this has been already covered for a 2019 / 2020

[SuperLooper]

I would also love to see a complete worked example of the figures for company car vs. private car, taking into account that nice BIK incentive.

[northernladuk]

I would also love to see a complete worked example of the figures for company car vs. private car, taking into account that nice BIK incentive.

Won't your accountant provide you with one?