2019 electric vehicle: a relevant example
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
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
