As part of encouraging the usage of environmental friendly cars, government is taking steps to transfer tax benefits to the users of electric cars.
Since 6 April 2020 the band for CO2 emissions of 1-50 g/km are altered to take into accounts the range of the car while running on electricity only. This means users of hybrid car will pay very less tax.
For example the annual tax liability on the use of BMW i3s Electric Car 94AH with Range Extender Auto, will be just £142 for standard tax rate payers and £284 for higher rate tax payers.
If you are looking to purchase an electric car through the business then contact us to find out your income tax liability.
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