*£5k Deposit & £779 x 47 based on 48 month PCP agreement & 6,000 miles per annum Why Your Business Should Switch to Electric Vehicles in the UK Driving an electric vehicle (EV) through your business in the UK isn’t just an eco-friendly choice — it’s one of the smartest financial and strategic decisions you can make today. 1. Major Tax and Financial Incentives ? 1% Benefit-in-Kind (BiK) Rate (Rising to Only 2% Until 2025) • If you’re providing a company car to yourself or employees, electric vehicles come with dramatically lower BiK tax rates than petrol or diesel alternatives. • Example: A £40,000 EV may cost the driver just £160–£320 per year in BiK tax. Compare that to thousands per year for a similarly priced petrol car. ? 100% First-Year Capital Allowance • Businesses can deduct the full cost of a new electric car from their profits before tax in the first year — a huge saving on Corporation Tax. ? Reduced Class 1A National Insurance Contributions • Lower BiK values also reduce your NIC bill, adding to the bottom-line savings for employers. ? Congestion Charge and ULEZ Exemptions • EVs are exempt from London’s Congestion Charge and Ultra Low Emission Zone (ULEZ), saving up to £15 per day per vehicle if operating in or near central London. 2. Sustainability and Compliance • The UK is moving toward a ban on new petrol and diesel cars by 2035. Transitioning early helps future-proof your fleet. • Many public contracts and corporate partnerships now include sustainability criteria — driving EVs aligns with net-zero goals and makes your business more competitive. • It also supports your ESG strategy, especially important for investors and stakeholders 3. Boost Your Brand and Attract Talent • Customers and clients are increasingly eco-conscious — seeing your staff drive electric vehicles builds brand trust and credibility. • Employees often prefer EVs as company cars due to the low BiK tax, helping you attract and retain talent. • If your business vehicles are signwritten, EVs are a great way to showcase your commitment to innovation and sustainability on the road.