Huge Benefits Will Come With Electric Cars
Wednesday, 23. December 2009
Confusion is going to reign over the many issues that will surround the use of electric cars as company vehicles. Already manufacturers are developing their new electric cars with some such as Peugeot already taking reservations on their new cars. But who pays for the fuel? Cars will need to be charged at the driver’s home as well as at work so who foots the bill and how will it be proportioned between business and pleasure? For those that drive their own car on company business and then recharge the company mileage at 40 pence per mile for the first 10,000 miles they could be absolutely quids in. Especially for those that live in London as they will be provided with free charging points and free parking with no congestion charging as well as no road fund licence (car tax). Even when drivers pay for their own recharging the cost per mile will still be less than 2 pence per mile. So someone using their own electric car driving 50 miles a day on business could be receiving £20 per day with no outgoings other than the purchase of the vehicle which will also receive a subsidy from the Government. If the car is a company car you will pay no benefit in kind tax for the free fuel because you could receive the fuel for free anyway so there is no benefit. The company car tax situation is also attractive, with the rate set at just 9% for benefit-in-kind tax. So those that may have dismissed the electric car may want to consider the huge financial benefit. By Graham Hill
