TEST DRIVE
EVs
Why Choosing an
EV makes sense WORDS BY MORVETH WARD
Electric Vehicles (EVs) are quite the talking point now and are becoming the norm, no longer the alien of the motoring world, but more often, the sensible choice - low emissions and generally better for the planet and there’s now a good choice of vehicles, too. And an investment that can make a good financial decision…
Matt Trevaskis of Drive Energy, tells of why choosing an EV can be of great financial benefit: “With the Benefit in Kind (BIK) rate on Electric Vehicles at just 1% in 2021/22 and 2% in 2022/23, the company car driver choosing an EV will take home significantly more of their salary, especially through a Salary Sacrifice scheme, and particularly so with a premium brand EV. And with zero Road Fund Licence, exemption from Clean Air Zone charges and restrictions being introduced in cities around the UK, it can make a lot of sense.
A 0-60 of 4.5 seconds and a quoted range up to 292 miles, what’s not to like
Since April, 100% First Year Capital Allowances can be applied towards the purchase of zero emission cars only and can give significant tax relief to businesses, which can also claim up to £14,000 towards the installation of charging points at their sites for fleet and staff use, whether those are company vehicles or staff-owned cars. If this energy is provided for free it is not considered a taxable benefit. 44 | BUSINESS CORNWALL
There is still government funding available (until March 2022) towards the installation of a home charging point, even for company car drivers - some of these can even record your usage for expense claims. Longer journeys out of Cornwall are becoming easier, after new investment in rapid charging infrastructure with upgrades already underway at motorway services after a recent buy-out of the principal national charging network.”
Jaguar I-Pace So, there really are great rewards for investing in an EV. So, the question is, what car to choose? The mad dash from manufacturers to make sure they get their market share of
