UK government incentive for electric vehicles in 2024
Capital allowance for electric vehicles
If you have purchased an Electric Company Vehicle for your Fleet from April you can claim Capital Allowance. This 100% of the vehicle cost which can be deducted from your taxable profit. For more up-to-date information you can find this on the HMRC website.
Grants for electric vehicles
For Small and Medium-sized businesses (SMEs), your fleet and staff can apply for 75% off the installation of electric vehicle infrastructure. You can apply here.
BIK tax
With Electric Vehicles releasing lower CO2 emissions you can expect your Benefit In Kind (BIK) Tax to be lower. Our useful article on BIK Tax explains this further.
Low emission vehicles grant
For Vans, Trucks and Taxis you can purchase vehicles at a discounted rate which is subsidised by the Government. However, this is only on specific government-approved vehicles.
For Small Vans, a dealer can apply a 35% discount to the price at a maximum of £2,500. For large Vans, this maximum discount is £5,000. Trucks can have a 20% discount…
