I'm an IT contractor, and director of a LTD, no employees except me.
I THINK the following is correct ...
- On an EV you get full tax relief, so for a £50,000 EV you save £9,500 in corporation tax! (until you sell it)
- Paying 'Benefit in kind' at 1% lets you drive the car for personal use. That's around £200 a year.
- You might even be able to get 130% 'super deduction' relief for installing charging point.
I saw sometihng on Fully Charged, so looked into it - but not 100% confident - anyone done this?
I THINK the following is correct ...
- On an EV you get full tax relief, so for a £50,000 EV you save £9,500 in corporation tax! (until you sell it)
- Paying 'Benefit in kind' at 1% lets you drive the car for personal use. That's around £200 a year.
- You might even be able to get 130% 'super deduction' relief for installing charging point.
I saw sometihng on Fully Charged, so looked into it - but not 100% confident - anyone done this?