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  • Altorian

Company electric cars and now, electric vans too

Electric company cars currently have a 0% benefit in kind charge for this current tax year (2020-21) making electric cars an attractive option for company car drivers and business owners with more and more options now available good range and charging stations becoming a familiar sight around the country. Some hybrid cars also benefit from the same although you do need to watch the electric range since this can vary the benefit from 0% up to 14%. See chart below

The taxable benefit for having the private use of a zero-emission van has not been reduced from April 2020 to nil, as for cars, but instead this will apply from April 2021. Currently in 2020-21 the electric van will be taxed at 80% of the benefit for a normal van.

Do remember however that there is no taxable benefit at all if the van is only used for business journeys and ordinary commuting, irrespective of fuel type.

If you are considering a new company vehicle, please do get in contact.

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