EV VEHICLES
- David Manklow
- Mar 24, 2022
- 2 min read
Whether you want to take advantage of low tax rates, help your business move towards becoming Net-Zero by 2030, or just want to move away from petrol/diesel-powered cars, AMF has options for you to make the switch to an EV vehicle easier than ever before.
Electric vehicles have seen accelerating demand over the past couple of years. Recent supply issues of petrol and diesel at pumps in the UK caused a spike in interest in plug-in vehicles. In a survey of 1,186 car buyers, 23% said the fuel shortage in 2021 has made them more likely to consider an electric or hybrid vehicle as their next car.
Switching to an electric car can also bring significant tax benefits for businesses. Given that over a quarter of the UK’s total carbon emissions are due to petrol- and diesel-powered transport, the government announced the beneficial tax rate for the next three years allowing people and businesses to plan ahead. The electric car tax on the benefit in kind rate will increase to 1% in 2021/2022 and 2% in 2022/2023.
Many business owners are unaware that you can finance an electric vehicle as a business vehicle and this is not just limited to vans or other commercial use vehicles. The release of sought after models from manufacturers like Porsche, whose flagship Taycan has become the go-to for business owners. An electric vehicle can take your business one step closer to becoming Net Zero, we’ve seen clients change fleets of business cars and commercial vehicles to electric in recent times.
It is important to remember that each person's situation is different but here at Approved, we are dedicated to finding you the best possible finance option. If you’re interested in EV vehicles and would like to further discuss your motor finance options then please contact one of our experienced finance brokers on 01908 429888 or email us at info@approved-finance.co.uk.