Electric vehicles and the UK charging infrastructure have now reached a tipping point that makes running an EV on your fleet a viable option bringing to the fore an opportunity to save your business £1000’s and purchasing the vehicles as an asset opens doors to even more savings for your company.
The UK Government is committed to increasing the number of EVs on the road in order to meet ambitious climate change targets and improve air quality in major cities. The Office for Low Emission Vehicles are still offering grants for workplace or home charging points.
Tax changes already in effect in the UK point to buying a nearly new EV a far better proposition than leasing new especially if you require your vehicles to cover mileages in excess of 10,000 miles per year. You can still take advantages of 0% BIK and class 1 NI, ZERO VED and Capital Allowances and VAT reclaim. Add to this FREE ultra-low emission zones, low maintenance and running costs the savings over a 2-4 year period make purchasing your EV financially advantages to your business.
Demand for electric vehicles from business and the general car buying public have resulted in strong residual values for your asset when you realise your period of ownership allowing the business to recoup healthy returns on your EV before moving to a newer, lower mileage EV.