Business End of Electric Vehicles
Switching company car fleets to electric vehicles can lead to significant savings and environmental benefits.
A review of tax tables reveals a substantial difference in tax rates for company cars. The tax rate for cars in Group A, which includes vehicles emitting 0g/km to 59g/km, is notably lower. High-mileage drivers, defined as those covering over 48,000km per year, pay only 9% tax on their Group A company car.
In contrast, drivers of cars in Group E, which emit more than 179g/km of CO2, face higher tax rates of 15% or up to 37.5% for low-mileage drivers.
It just makes vast amounts of sense to go electric when buying a company car.
The case for choosing an electric vehicle as a company car is clear, with potential for huge savings.
Author's summary: Electric vehicles offer significant savings for company car fleets.
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