Tax breaks on electric cars

Want to find out more about the tax breaks on electric cars ?

Want to buy a car through the business?

Good news 100% First Year Allowances (FYA) for business cars and zero-emission goods will be extended from April 2021 until April 2025 . The measure had been omitted from Finance Act 2020.

What does this mean? If you want to buy a new electric Tesla ( Fleet and Company | Tesla United Kingdom ) for £60,000, the entire cost of the Tesla will reduce your business’ taxable profits by £60,000, saving corporation tax at 19%, this means a tax saving of £11,400.

This Xmas, get yourself a Tesla (thanks to us).

Call Sharon on get in touch here London Accountant | Chartered Accountant London | AllianceCA

 

#HMRC #Tesla #Capitalallowances