The 2% Benefit in Kind rate has now been frozen until 2025, so electric company cars drivers can continue to enjoy reduced BIK rates until this date. Workplace EV charging If you’re an employer, you may be able to benefit from an electric car Benefit-in-Kind tax exemption by ...
As the UK pushes towards a greener future, the Benefit in Kind (BiK) rates for electric cars have become a hot topic for company car drivers and fleet managers alike. Here, we’ll explore the current BiK rate for electric vehicles, how it compares to traditional fuel types, and what chan...
Benefit In Kind (BIK) Tax Benefit-in-kind (BIK) tax, or company-car tax, is paid annually by drivers of company cars, but the amount required varies greatly depending on the car in question. All-electric cars, for example, are subject to a BIK rate of only 2% until April 2025. See...
Benefit in Kind (BIK) Tax calculation P11d value x HMRC Company Car tax rating = Annual Taxable benefit Annual taxable benefit x Employee Higher Income Tax rate of 40% = Benefit in Kind (BiK) tax Fuel cost calculation Fuel cost for 6,000 personal miles calculated at 11p per mile (diesel...
companycar,andthe electricitytochargeit, areexemptfromtaxationasbenefitinkind. Bonus(untiltheendof 2024)forthepurchase ofnewcars(privateuse)withafullyelectricrangeof≥60kmandgross listpriceof≤€60,000: €2,000+€3,000(importerbonusandfederalbonus)forBEVsandFCEVs. Additionalincentivesaregrantedbyprovin...
Electric bills are designed to cover all of the costs of producing the electricity that you use, of running and maintaining the electrical grid to help prevent outages, and of any public benefit funds that promote things like renewable energy and energy efficiency. These costs are rolled into bo...
Electric bills are designed to cover all of the costs of producing the electricity that you use, of running and maintaining the electrical grid to help prevent outages, and of any public benefit funds that promote things like renewable energy and energy efficiency. These costs are rolled into bo...
One of the major benefits of electric and hybrid cars is the potential for significant tax savings. Both private owners and businesses can benefit from lower tax rates compared to conventional vehicles. For businesses, this makes Kia's electric and hybrid vehicles ideal for fleet use, not just ...
Electric bikes are growing in popularity as a means of transportation and recreation around the world. Many people are choosing electric bicycles as a convenient, healthy, and environmentally-friendly form of transportation. Whether you’re looking for a fun way to enjoy the outdoors or an easy ...
For starters, electric cars can benefit from a process called regenerative braking, where the car is able to capture the energy lost during braking to recharge the battery. Not only is this more energy-efficient, but it also reduces wear and tear on the brakes. But crucially, electric car...