Originally posted by gazelle
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Reply to: Best route to electric car?
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Previously on "Best route to electric car?"
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Thanks NLUK and Saptastic,
I guess it was wishful thinking on my part. I did see that BIK rates were published for a few years - I guess this ties in with most people leasing cars for 2-3 years so can budget for these years. But makes it difficult if you were looking to buy a car to keep for 5yrs+ and were enticed by the initial 100% CT write down and 0-1% BIK rates.
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Originally posted by gazelle View PostCan someone help clarify a query on BIK rates - If you bought an EV in 2020/21 where BIK is 0% - is this the BIK you will pay for as long as you have the car or do you pay the BIK rate for the year you are in i.e. currently 2021/22 has BIK rate of 1%. Something I've not been able to find an answer for.
So if you bought a car in 2020/21 where BIK is 0% - but then in later years chancellor increases BIK to 10% - would you then have to pay BIK at 0% (i.e. the year you bought the car) or the BIK rate for that year e.g. 10% - If it is the latter - then I guess you are at the mercy of the chancellor - as you would not know what the BIK rates might be in future years - though they maybe quite attractive and enticing at the moment.
It changes every year depending on what the tax rates are set at
So you could have an electric car in year 1 at 0% and in year 3 the chancellor changes it to all cars a minimum of 10% - then you pay 10%
Normally rates are set a few years in advance so shouldnt be big surprises instantly
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Originally posted by gazelle View PostCan someone help clarify a query on BIK rates - If you bought an EV in 2020/21 where BIK is 0% - is this the BIK you will pay for as long as you have the car or do you pay the BIK rate for the year you are in i.e. currently 2021/22 has BIK rate of 1%. Something I've not been able to find an answer for.
So if you bought a car in 2020/21 where BIK is 0% - but then in later years chancellor increases BIK to 10% - would you then have to pay BIK at 0% (i.e. the year you bought the car) or the BIK rate for that year e.g. 10% - If it is the latter - then I guess you are at the mercy of the chancellor - as you would not know what the BIK rates might be in future years - though they maybe quite attractive and enticing at the moment.
You are at the mercy and he WILL come calling. When they are raiding everything they can, fags, alcohol, fuel and whatever you can bet your bottom dollar 3% BIK will be far too tempting to miss.Last edited by northernladuk; 1 September 2021, 18:19.
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Can someone help clarify a query on BIK rates - If you bought an EV in 2020/21 where BIK is 0% - is this the BIK you will pay for as long as you have the car or do you pay the BIK rate for the year you are in i.e. currently 2021/22 has BIK rate of 1%. Something I've not been able to find an answer for.
So if you bought a car in 2020/21 where BIK is 0% - but then in later years chancellor increases BIK to 10% - would you then have to pay BIK at 0% (i.e. the year you bought the car) or the BIK rate for that year e.g. 10% - If it is the latter - then I guess you are at the mercy of the chancellor - as you would not know what the BIK rates might be in future years - though they maybe quite attractive and enticing at the moment.
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Originally posted by TheDogsNads View Post
May I suggest you do some proper research on the production of hydrogen, its conversion to a non gaseous state, storeage and it's efficiency whether as a compressed fuel or via a fuel cell? Hydrogen as a fuel is best suited to larger vehicles that do not need, quick delivery of speed changes as cars do. HGVs, trains and even ships are better vehicles for it.
11,000 units is a tiny number. 8,000 a year is miniscule.
Basic maths tells me that 11,000 is 11,000 times more than one.
Oh, and here's a list of well known manufacturers, across ALL their models are on track for sales less than 11,000 in the UK this year:Alfa Romeo Bentley Jeep Maserati Mitsubishi Subaru
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Originally posted by WTFH View Post
Your source for this?
Perhaps in some backwater areas it's a non-starter, but the "demo vehicle" you refer to has sold around 11,000 units, while the Hyundai Nexo is selling around 8,000 a year.
11,000 units is a tiny number. 8,000 a year is miniscule.
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Originally posted by WTFH View Post
Your source for this?
Perhaps in some backwater areas it's a non-starter, but the "demo vehicle" you refer to has sold around 11,000 units, while the Hyundai Nexo is selling around 8,000 a year.
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Originally posted by TheDogsNads View PostHydrogen for cars is a non starter even if Toyota, whoever, may have a demo vehicle up and running. And if you think EV batteries are dangerous and a potential fire hazard, wait until you have a hydrogen 'bomb' pressurised to around 700psi in a full fuel tank \ cell. Hydrogen is biglumbering vehicles such as HGVs and trains has more legs because of the way it's stored and is more suitable to giving up it's energy at a consistent rate, not the stop \ start sudden squirt on the loud pedal car and van drivers are used to. in any event, extracting hydrogen and compressing it into a form to fuel vehicles isnt yet a free, get out of jail process.
Perhaps in some backwater areas it's a non-starter, but the "demo vehicle" you refer to has sold around 11,000 units, while the Hyundai Nexo is selling around 8,000 a year.
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Originally posted by Paralytic View Post
Even without the need to recover the pandemic handouts, anyone who thought that EVs would retain a relatively low tax burden over the coming years, as PE car sales/usage reduce, is extremely naive.
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Originally posted by TheDogsNads View PostWith the Government looking to rake in revenue to cover some of the pandemic's cost, it is debatable whether EVs will retain their tax efficiency for much longer.
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Originally posted by lecyclist View PostIf you ignore the shortage of high-speed chargers (that can only be resolved by significant investments in public infrastructure - I've seen the data from the CPOs), then the financials being described here makes EVs worth considering. Even "vampire leakage" (losing charge of between 1 mile/ 1% per day when not in use, if the data is accurate) seems reasonable for occasional drivers, compared to older battery technology. https://teslaowners.org.uk/kb/reduce...e-tesla-parked
Hydrogen for cars is a non starter even if Toyota, whoever, may have a demo vehicle up and running. And if you think EV batteries are dangerous and a potential fire hazard, wait until you have a hydrogen 'bomb' pressurised to around 700psi in a full fuel tank \ cell. Hydrogen is biglumbering vehicles such as HGVs and trains has more legs because of the way it's stored and is more suitable to giving up it's energy at a consistent rate, not the stop \ start sudden squirt on the loud pedal car and van drivers are used to. in any event, extracting hydrogen and compressing it into a form to fuel vehicles isnt yet a free, get out of jail process.
EVs currently attract a favourable BIK but the Treasury's plans are to phase this out. It was proposed to increase to 4 or 5% a few years back but 'dishy' Rishi decided to postpone that. With the Government looking to rake in revenue to cover some of the pandemic's cost, it is debatable whether EVs will retain their tax efficiency for much longer.
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If you ignore the shortage of high-speed chargers (that can only be resolved by significant investments in public infrastructure - I've seen the data from the CPOs), then the financials being described here makes EVs worth considering. Even "vampire leakage" (losing charge of between 1 mile/ 1% per day when not in use, if the data is accurate) seems reasonable for occasional drivers, compared to older battery technology. https://teslaowners.org.uk/kb/reduce...e-tesla-parked
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Originally posted by Snooky View Post
Yeah, I should probably have mentioned he's not a contractor, he runs/owns a reasonable size company and he bought it as a pool car for his staff to drive to clients, so it's a genuine company asset/tool rather than just his plaything. He's by far the richest person I know so I have no doubt he has a great accountant who's pointed him in the right direction
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Originally posted by Maslins View Post
Unless he's a taxi driver/similar, then he can't reclaim VAT on the purchase of a car. Yes he'll get 100% write down for CT purposes, which is great, but it does in turn mean if/when he sells it, his company suffers CT on whatever it's sold for.
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