Tax incentives to employers for offering electric company cars
Finance & Funding
Key learnings
- HMRC sets its tax rules for company cars based on emissions – so the lower the better.
- Tax rates for electric-only cars can be just 1% of the original list price, compared to 24% for petrol or diesel-only.
- Salary sacrifice can be used to further reduce the monthly cost to employees.
- UNW can help assess the benefits of moving to electric company car fleets.
The company car is a popular incentive that employers have offered their employees for many years but there are tax implications associated with them. However, there can be several opportunities for employers to save tax and National Insurance by you offering low emission vehicles, as UNW explains...
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