The popularity of all-electric vehicles is continuing to accelerate, especially among businesses. The benefits of owning an electric vehicle as a business owner, such as a Porsche Taycan or the Macan Electric, are extensive and worth consideration. Outlined below are a handful of schemes that benefit electric vehicles and business owners:
Benefit in kind:
Benefit in kind refers to the tax that is paid on a company car based on its tailpipe emissions. For example, the Porsche Taycan and all-electric Macan both offer a 2% benefit in kind until April 2025 due to zero tailpipe emissions, which sits significantly lower than petrol and diesel vehicles, which have an average rate of 20-27%.
First year allowance:
With both the Taycan and all-electric Macan, you can benefit from a first-year allowance of up to 100% for business owners, meaning your business could claim a 100% first year reduction on the cost of your all-electric vehicle (applicable to new vehicles/cars considered new despite being used).
Salary sacrifice:
The salary sacrifice scheme enables employees to sacrifice some of their gross salary to receive the bene
fit of driving an all-electric car. The sacrifice is executed before tax and National Insurance contributions are made, therefore enabling employees and businesses to make further savings.
Tax benefits:
Due to monthly lease payments on your vehicle being treated as a business expense, business leasing can help to reduce your company’s tax bill. Businesses may also be able to claim back the VAT on the monthly lease payments, meaning the cost of the lease payments can be written off as a business expense.
To discover more about our business benefits on our all-electric vehicle range, or to book a test drive, please contact our expert team at info@porschebristol.co.uk
We are pleased to inform you that Porsche Centre Bristol has moved into our brand new temporary facility 'The Hangar' during the renovation of our main showroom.
We greatly appreciate your patience and understanding during this period and we look forward to welcoming you to our temporary home at 'The Hangar' and continuing to serve all your needs with the same dedication and excellence.
Address: Porsche Centre Bristol, ‘The Hangar’, Cribbs Causeway, Bristol, BS10 7TU.