There are numerous incentives that fleets can benefit from through the adoption of electric vehicles into their fleets.
- The Government’s Plug in Car grant offers up to £5,000, or 25% of the cost of the vehicle, off the list price for electric vehicles that meet the criteria outlined by the Office of Low Emission Vehicles. The Nissan Leaf falls within these limits. The grants will be available from January, 2011.
- The green car salary sacrifice scheme provides significant benefit to employees looking to buy an electric vehicle for work use. More information, and case studies, will be coming soon.
- Electric cars bought by companies for employees will also be zero rated for tax benefits for the next 5 years.
- No company car tax for five years.
- No Vehicle Excise Duty, including no first year higher rate.
- 100% ‘write down’ in your first year for new EVs you buy under Enhanced Capital Allowances. Businesses can relieve the entire cost of an electric car or van against taxable profits in the year of acquisition.
- Lower fuel costs. For example, for 20,000 miles you’d pay around £800 a year for your EV. For petrol or diesel you’d expect to pay around £2,400 - that’s a saving of £1600.
- Lower expected maintenance costs.