This is an important, positive moment on the UK’s Road to Zero journey.”. For further analysis and fleet reaction on the Budget, see the March 26th edition of Fleet News. You may choose to make an electric car available to your employee for private use between now and 31 December 2020. Great news on the 2 year extension to the BIK rates. Tesla increases the range of its vehicles on a regular basis. The Spending Review in November 2020 underlined the Government's renewed However, it will need to pass through both houses of Parliament taking it beyond April 6, which means company car drivers will be issued with tax information quoting the old rates before the new rates can be applied retrospectively. NGC Budget Report: Boost for UK electric vehicle market Next Green Car's summary of the Chancellor's Budget 2020 as it affects vehicle tax, fuel duty, BIK rates and other motoring taxes and incentives. The best electric bikes 2021: find your dream e-bike, whatever your budget By Macarthy Danzig , Cat Ellis 03 January 2021 The best electric bikes for all riders and terrains The Government has announced the largest ever investment in England’s motorways and major A roads. Recognising that the market for other ultra-low emission vehicles is still very small, the Government will also provide £129.5m to extend the Plug-in Grants for vans, taxis and motorcycles to 2022-23. Also great that he saw sense in removing the "luxury car" VED tax after year 1 for electric cars costing over £40k. Let’s also remember that plug-in hybrids are still a vital tool for the transition towards mass electrification for many organisations and although they will benefit from this 2% BIK reduction, we hope to see further practical and financial support for these vehicles in the Autumn Budget. Eduarda Thomas, principal consultant at Lex Autolease, said: “The publication of company car tax rates beyond 2023 is a hugely welcome shot in the arm for the fleet market and gives decision makers the clarity they need to invest in greener fleets now. The 4% diesel levy remains, however, as at present, RDE-2-compliant vehicles are exempt from the hike. The new 50g/km threshold will also apply for determining the lease rental restriction for costs of hiring business cars for more than 45 consecutive days. Relief for Hybrid and Plug-In Hybrid Vehicles (PHEVs) Relief for hybrid electric vehicles and PHEVs is being extended until 31 December 2020. While these rates are now set in stone for the 2021/22 tax year, the new chancellor under the next prime minister will have the opportunity to alter future years’ rates if they wish to do so, Company Car Today understands. Today’s (11 March 2020) budget has announced that government is providing £532 million for consumer incentives for ultra-low emission vehicles. Leasing rates may be hit by the WDA change moving from 110g to 50g where lease companies employ a two-tier finance rate using the WDA threshold. We look forward to further details being published on Thursday but on the face of it this is a hugely positive move for electric vehicles in the UK.”, The latest addition to the @MercedesBenzUK electric EQ range has been revealed, with the EQA due here this spring.… https://t.co/ohngYi21ju, In case you missed our latest six-page Big Test in Company Car Today, we've published our in-depth look at the new… https://t.co/g7RrFzneDu, In case you missed our latest news round-up: New entry @PorscheGB Taycan EV, @mycardirect acquires Avalon rental,… https://t.co/SlYZtE6b6z, In case you missed it when we published the Coffee With interview, we've just added our chat with @GoUltraLow's Pop… https://t.co/Tluo2Zwgrd, Automotive Media & Events Limited The Fleet News car tax calculator lets you work out tax costs for both employer and employee. The €50,000 limit means cars like the Tesla Model X won’t fully benefit from the 0% BIK rate on electric cars Wed, Oct 10, 2018, 10:59 Updated: Wed, Oct 10, 2018, 11:31 Peter Hamilton Would you be willing to share vehicle data as long as anonymity is maintained? Tom Brewer, head of sales and marketing at VWFS Fleet, said: "We are pleased to see the government taking real steps to help businesses lower their emissions for good. by Jack Sexty Jun 14 2020 . BIK is 29%. “We are optimistic that the lack of clarity in recent years is behind us and hope that five-year visibility is maintained in the years to come.”. So many brilliant new electric cars have gone on sale in the past year – but right now which are the best ones you can buy? Budget 2020: A boost for Made in India BS VI Engines and electric vehicles Parvatha Vardhini C | Updated on February 02, 2020 Published on February 02, 2020 But no … Fleet decision makers can subscribe for free. 6 comments. A cap of €50,000 applies to the relief. “Fleets typically plan in five to 10-year cycles, and confident purchasing decisions cannot be made without sight of future tax liabilities. This applies retroactively to electric company cars already registered before the 6 April 2020 introduction date for the new rates. Barnett said: “Removing the VED surcharge for EVs will encourage uptake, many of which have list prices higher than the £40,000 threshold. Diesel plug-in hybrids are classed as alternative fuel vehicles, so the 4% diesel supplement does not apply to these vehicles irrespective of RDE2 compliance. For 2020, the Chevy Bolt and Hyundai Ioniq Electric both see a range increase. Sunak said: "We are doing everything we can to keep this country and our people healthy and financially secure.". Look out for Fiat, Skoda, Mazda and Vauxhall as the cheapest electric cars in 2021. Round-Up: Facelifted Passat shown, Hyundai teases new model, Mobile servicing ‘saves firms £1.1m’, Second Audi A3 PHEV confirmed, EVs attracting drivers back to company cars, Hyundai Tucson due in spring, Notion that company car is in decline must be corrected: AFP, Leasing: Be seduced by the lowest up-front cost at your peril, Guest Opinion: Small changes signal a big boost for electric fleets, Going the Distance: Tax boost for high-mileage PHEVs, Merry Christmas from the team at Company Car Today, Coffee with...Poppy Welch, Head of Go Ultra Low. The rate will rise to just 1% in 2021-22 and 2% in 2022-23. The carbon tax on fuel will increase by €6 from €20 per tonne to €26 per tonne. For cars first registered from April 6, 2020, most company car tax rates will be reduced by two percentage points, with a new zero percentage rate for pure electric vehicles (EVs). The development of these alternatives will be supported by the government more than doubling its investment in the Energy Innovation Programme. Where this occurred, no charge to BIK arises in respect of any use by your employee in 2018. At a fraction under £2,000, this is a great value electric bike. Budget 2020: Will There Be Incentives To Buy Electric Vehicles? By Pankaj M Munjal. 9 of the best e-bikes for around £1,000 2020: Electric bikes on a budget. The Budget therefore allocates an additional £304m to enable local authorities to take immediate steps to reduce nitrogen dioxide emissions. The Government is also investing £20m to develop the Midlands Rail Hub, progressing plans for a major programme of improvements to rail services across these regions. It's a pity he didn't extend this to PHEV's below 50g/km too. The statement comes as the Treasury has published BIK rates until 2022/23 – and has axed those that were previously planned to come into force from next April, with two tables being created – one for cars registered before 6 April 2020 and another for those registered after 6 April 2020. The Government says it is committed to bringing roadside concentrations of polluting nitrogen dioxide gas within legal limits in the shortest possible time. “Whilst regulation is already in place for cleaner vehicles on the road, cutting taxes on these is the right way forward, particularly to boost consumer demand. Relief for Hybrid and Plug-In Hybrid Vehicles (PHEVs) Relief for hybrid electric vehicles and PHEVs is being extended until 31 December 2020. Earlier today (Wednesday, March 11), the Bank of England announced an emergency cut in interest rates from 0.75% to 0.25% in a bid to support the economy during the virus outbreak. Benefit-in-kind on electric vehicles. 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