At the start of the new tax year on 6 April 2020, a major uprating of UK Government tax breaks and incentives for EVs comes into force.
When employer and employee tax breaks are combined with other hard cash savings of EV ownership, the total financial benefits of owning and driving and EV for business use, compared to a old-tech car, could amount to 100% or more of the sticker price a new EV over three years and 45,000 miles of use.
Document updated 27 May 2020 to reflect the elimination of the “luxury supplement” of £320 Road Tax from Year 2 onwards, but only for all battery electric vehicles. More expensive ICE cars still have this penalty.
The full report is is here.
Thanks to CleanTechnica for featuring this report. Link here.
[…] this month, Alan also published an article analysing the major upgrade to the package of tax breaks and other incentives the UK Government is […]