Industry analysts say 2021 set to be year of the electric car.
How much benefit in kind (BIK) do you pay on your company car? Well, whether you’re a company owner supplying vehicles for your valued members of staff or an employee opting out of the company car scheme, we can help! There’s huge proposed tax benefits to both the employer and the employee alike.
This is due to the Government claiming that company car drivers who choose an emissions-free electric fleet model will pay no benefit-in-kind (BIK) tax for the year of 2020/21, as part of new efforts to encourage motorists to switch to green vehicles. BIK rates are said to increase only to 1% from April 2021 and 2% from April 2022.
The Government says that “by providing clarity of future the appropriate percentages, businesses will have the ability to make more informed decisions about how they make the transition to zero emission fleets”.
Plug-in Hybrid Electric Vehicles
Hybrid new cars are also receiving great tax benefits. Not quite tax free such as electric vehicles, but still definitely worth consideration due to the way the company car tax proposals have been calculated.
We have found that company car tax differs dramatically, depending on numerous aspects. A large one we’re finding is battery range the particular manufacturer has managed to apply to your chosen vehicle.
PHEVs are similar to hybrid electric vehicles and are powered by both a petrol engine and an electric motor with a battery. The difference, however, is that they need to be charged by a plug-in charger and have much larger batteries as a result. This means they can travel greater distances using electricity than an HEV can, plus still have petrol or diesel as a backup.
How Nucar Works
We’ve negotiated, so you don’t have to.
1. Choose Your Dream Nucar
Whilst utilising our exclusive pre-negotiated savings offered by our trusted UK franchised dealers.
2. Get Your Personalised Quote
We can prepare you a tailored quote to your desired specification. We can also obtain finance quotes on your behalf (if required), whilst utilising manufacturer finance offers including finance contributions (where applicable) and low rate APR’s.
3. Buy From Our Trusted Franchised Dealership
Purchase your new car directly from our trusted franchised dealer network - we have spent years carefully selecting our panel of franchised dealers to ensure you both fantastic savings and great customer service.
4. Enjoy Your New Car Hassle Free
We’ve negotiated, so you don’t have to. We can offer you unrivalled customer service, great savings and impartial advice providing you a time saving, cost effective with no unwanted pressure way to purchase your new car.