Many individuals are making more conscious decisions when it comes to the environment. One way many people are looking to reduce their carbon footprint is by purchasing an electric car.
Some companies will offer their employee’s a company car. Company cars can be a great benefit, despite the potentially higher personal tax charge. With the pressure to be environmentally conscious, many companies who offer company car’s to their employees, are providing electric cars as an option.
Employers offering such schemes will be aware of the benefit-in-kind tax rules and the tax impact. The impact is lower on the employee when they choose a lower emission car.
Although great for the environment, there are pros and cons to purchasing an electric car.
Is the shift to electric cars the way forward?
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Make sure you are in the know by reading our latest guide today. Our guide gives handy guidance on:
- Changes to benefit-in-kind tax rules
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