Electric Car Benefit In Kind 2024/25. The lower tax rates for electric vehicles in the tax years 2023/24 and 2024/25 make driving electric even more appealing. What is bik (benefit in kind) car tax and how do i calculate it?
As with purchasing, leased electric cars benefit from lower bik rates for employees. The bik rate for electric cars did increase from 1% to.
We Have Broken Down How The Benefit In Kind (Bik) Tax Applies To Electric Cars, And How You Can Achieve Significant Savings With The Electric Car Scheme.
Do you pay company car tax on electric cars?
Consequently, A Basic Rate Taxpayer Would Only Pay ยฃ120 In Tax For The Benefit Of Having An Electric Company Car Available For Their Private Use Throughout 2024/25.
As with purchasing, leased electric cars benefit from lower bik rates for employees.
Electric Car Benefit In Kind 2024/25 Images References :
For Electric Cars And Other Cars With An Approved Co2 Emissions Figure Of 75G/Km Or Less, Answer โNoโ To The Question โIs The Car Provided Via An Optional Remuneration Arrangement?โ.
One main factor in buying an electric vehicle through your company is the electric car corporation tax relief.
Do You Pay Company Car Tax On Electric Cars?
A secondary factor is the low benefit in kind when leasing or buying.