A leasing company has suggested that the availability of EV company cars could go some way in easing the cost-of-living crisis in the UK…
EV Company Cars Easing Cost-of-Living
Electric vehicles have all sorts of benefits. They’re better for the environment, are easier to maintain and now, according to a leasing company, they could help alleviate the worst of the cost-of-living crisis. Arval UK has pointed out that 20% tax payers, with access to EV company cars, could save between £1,000 – 2,000 a year in Benefit in Kind (BiK) tax.
The company has also pointed out that costs associated with personal mileage are much lower for business drivers with electric company cars. Potential savings, compared to someone driving a conventional petrol or diesel, could reach into the hundreds of pounds over the course of a year. For high-mileage drivers, this is a particularly significant way of saving money, given the current price of fuel.
Low BiK, Low Tax
Joel Lund, commercial director at Arval UK, commented on the advantages of companies offering electric company cars. He said, “very low benefit in kind and the resultant lower tax deduction, has been a key factor in electric car adoption from the moment that it became available, but it has become even more decisive in the last few months. At a time when prices of ordinary goods and fuel are visibly rising by the month, a take home pay increase of this kind has genuine value”.
He continued, “what we are seeing is both individual drivers and entire fleets, which may have been slow when it came to electrification, suddenly find impetus, which very much fits in with our stated corporate strategy of supporting our customers’ transition to electrified vehicles as soon as possible. And by employers enabling more employees to access electric cars through salary sacrifice, it’s also a more inclusive approach for all employees”.
New Report Suggests Driverless Cars Could Be Used As ‘Weapons’ – https://autoserve.co.uk/motoring-news/new-report-suggests-driverless-cars-could-be-used-as-weapons/
Here’s How You May Be Damaging Your Car’s Tyres – https://www.autoserveclub.co.uk/blog/heres-how-you-may-be-damaging-your-cars-tyres/