{"id":42776,"date":"2020-07-22T14:51:37","date_gmt":"2020-07-22T13:51:37","guid":{"rendered":" https:\/\/www.quartix.com\/?p=42776"},"modified":"2023-05-25T16:50:23","modified_gmt":"2023-05-25T15:50:23","slug":"new-tax-rates-on-evs","status":"publish","type":"post","link":"https:\/\/www.quartix.com\/en-gb\/blog\/new-tax-rates-on-evs\/","title":{"rendered":"New tax rates on EVs:  Is it time to go electric?"},"content":{"rendered":"\n<p>Cost has always been a barrier to adopting electric vehicles, or EVs. The vehicles themselves are often more expensive than petrol or diesel options. It\u2019s also difficult to find used EVs for sale as their popularity soars.<\/p>\n\n\n\n<p>But the UK government has just announced its new Benefit in Kind (BIK) tax tables for company car drivers. The lower tax rates will be a great motivation for fleet managers to go electric.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Favourable rates for EV fleets<\/h2>\n\n\n\n<p>Fleets have been calling upon the government for aid in the effort to reduce emissions by helping to put more EVs on the road. With these new BIK tax tables, the government has taken a good step forward.&nbsp; As they announced in July 2020, purely electric vehicles with no tailpipe emissions that are registered after April 6, 2020 will be taxed at 0%, paying no tax at all for 2020\/2021. Also, plug-in hybrids (PHEVs) will enjoy reduced tax rates for that time period.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.fleetnews.co.uk\/news\/fleet-industry-news\/2019\/07\/09\/no-company-car-tax-on-electric-vehicles-says-government\">This article from Fleet News gives a complete breakdown of the new tax tables.<\/a><\/p>\n\n\n\n<p>With such favourable tax rates, companies have even more motivation to adopt EVs and hybrids.<\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\" https:\/\/www.quartix.com\/content\/uploads\/2020\/07\/EV-charging-station-1.jpg\" alt=\"Electric vehicle charging\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h2 class=\"wp-block-heading\">A surge in demand<\/h2>\n\n\n\n<p>In line with this decision, EV demand has already increased, according to a Survation study that was commissioned by London First. They found that a third of UK fleets already have EVs and 46% are actively in the process of making the transition.<\/p>\n\n\n\n<p>In the first quarter of 2020, 74% of fleet drivers with petrol vehicles replaced their vehicle with a hybrid. In the same quarter, only 44% of diesel fleet drivers replaced their current vehicle with another diesel, further evidence of the shift to hybrids and EVs.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.fleetnews.co.uk\/news\/latest-fleet-news\/electric-fleet-news\/2020\/07\/09\/ev-demand-surges-to-record-high-as-fleets-embrace-tax-savings\">Read more about this study\u2019s findings here.<\/a><\/p>\n<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Challenges of adopting electric vehicles<\/h2>\n\n\n\n<p>While government tax incentives give businesses a good reason to go electric, there are still barriers that fleets must face before they can fully adopt EVs.&nbsp; Earlier this year, the <a href=\"https:\/\/fta.co.uk\/campaigns\/forms\/electric-vehicle-report-download-form\" target=\"_blank\" rel=\"noopener noreferrer\">FTA published a report<\/a> outlining these obstacles which include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Accessibility of EV services<\/li>\n\n\n\n<li>Lack of infrastructure<\/li>\n\n\n\n<li>Concerns about the reliability of EVs<\/li>\n<\/ul>\n\n\n\n<p><a href=\"\/en-gb\/blog\/electric-vehicles-barriers\/\">Find out more about these challenges here.<\/a><\/p>\n\n\n\n<p>However, the new BIK tax tables likely won\u2019t be the last government aid in the transition to electric fleets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The benefits of vehicle tracking<\/h2>\n\n\n\n<p>If you are thinking of going electric, now is the time. However, for companies who aren\u2019t ready to transition to EVs, but still want to reduce their carbon footprint, <a href=\"\/en-gb\/vehicle-tracking\/live-tracking\/\">vehicle tracking<\/a> can help. &nbsp;Monitoring and reducing emissions by <a href=\"\/en-gb\/vehicle-tracking\/driver-behaviour\/\">analysing driving styles<\/a> allows fleet managers to see where improvements can be made to their drivers\u2019 speed, braking\/acceleration and idling habits.<\/p>\n\n\n\n<p>The future is electric, but having a vehicle tracking system is another step towards a greener and more efficient fleet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK government has just announced its new Benefit in Kind (BIK) tax tables for company car drivers. Find out how this may impact your decision to transition your fleet to electric. <\/p>\n","protected":false},"author":6,"featured_media":42787,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1565],"tags":[],"topic":[1854],"qtx_fblgauthor":[],"class_list":["post-42776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","topic-sustainability"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New tax rates on EVs: Is it time to go electric? - UK<\/title>\n<meta name=\"description\" content=\"New tax tables for company drivers are a great motivation for fleet managers thinking about adopting EVs, but are there still concerns about going electric?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.quartix.com\/en-gb\/blog\/new-tax-rates-on-evs\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New tax rates on EVs: Is it time to go electric?\" \/>\n<meta property=\"og:description\" content=\"New tax tables for company drivers are a great motivation for fleet managers thinking about adopting EVs, but are there still concerns about going electric?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.quartix.com\/en-gb\/blog\/new-tax-rates-on-evs\/\" \/>\n<meta property=\"og:site_name\" content=\"Quartix\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Quartix-USA-374426386097401\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-22T13:51:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-25T15:50:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.quartix.com\/content\/uploads\/2020\/07\/EV-charging-station-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"431\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kristen Roach\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@QuartixUSA\" \/>\n<meta name=\"twitter:site\" content=\"@QuartixUSA\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kristen Roach\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"New tax rates on EVs: Is it time to go electric? 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