Company Car Tax Rates Electric Vehicles. P11d value x bik co 2 rate = bik value. As recently as 2020/21, the bik rate was 0 per cent, then in 2021/22 it went up to one per.
Therefore, by the end of the tax year 2027/28, the bik rate for electric vehicles will be 5%, a rise of 3% from the 2024/25 rate of 2%. Since 2021, electric fleet vehicles have been subject to a 2% rate, and that will be the case until 2025, after which the rate will rise by 1% annually until 2028.
The Irs Standard Mileage Rate For The Use Of Cars, Vans, Pickups Or Panel Trucks Driven For Business Use Is 58 Cents Per Mile For 2019, 57.5 Cents Per Mile For 2020.
Those bands are frozen until april 2025, which means electric vehicle drivers are only being taxed based on 2% of the list price until that date.
The Government Sets This, And It Is Two Per Cent For All Fully Electric Cars In The 2022/23 Tax Year.
The chancellor said company car tax rates for electric vehicles will remain lower than for traditionally fuelled vehicles.
Whereas A Petrol Or Diesel Car Attracts A Percentage Charge Of 30% Or More, Electric Vehicles Are Chargeable At A Much Lower Rate.
Images References :
This Annual Increment Is Fixed At 1%.
Therefore, by the end of the tax year 2027/28, the bik rate for electric vehicles will be 5%, a rise of 3% from the 2024/25 rate of 2%.
Since 2021, Electric Fleet Vehicles Have Been Subject To A 2% Rate, And That Will Be The Case Until 2025, After Which The Rate Will Rise By 1% Annually Until 2028.
As recently as 2020/21, the bik rate was 0 per cent, then in 2021/22 it went up to one per.
