When are you going fully electric?

Tinders said:
You say that, but I know a few companies who have issued all their service teams with Tesla model 3’s, these lads won’t be higher rate tax payers. And it’s not huge companies either, maybe 3 or 4 mill TO.
Click to expand...
If the cars are available for personal use they will still be on the BIK gravy train though.

The only reason I referenced basic rate is that it also rules out salary sacrifice being as favourable.
 
lordrobs said:
If the cars are available for personal use they will still be on the BIK gravy train though.

The only reason I referenced basic rate is that it also rules out salary sacrifice being as favourable.
Click to expand...

Sorry for being thick, but how does this idea of what you say for personal use and BIK work? Do you mean through work?
 
crazyDAJT said:
It will be what your charger reports into the car. You will still pay duty on it. Take chip fat, you still pay tax over a threshold.
Click to expand...
time to drag granny out of the frunc and plug her in then ;)

edit covered multiple times all ready sorry.
as for tax dodging. (something someone else mentioned) I don't mind paying a set amount of tax per mile driven so long as it is on ALL cars., then presumably with an added emissions tax put on the fuel so the cleaner the fuel the lower the tax (even in an EV I could imagine a premium for charging between 3:30pm and 7:30pm for instance)

but taxing electricity generated on my roof? sod that! I pay a (ever increasing) service charge for my electricity which should go towards maintaining the infrastructure.... my conscience is then clear about using the solar i generate.

at the moment I am happy to dump that to the grid making sure I never used electricity at peak times, and then fill up when demand is low however if the government choose to take the .... too much I will just hold onto as much of it as I can myself. it's no skin off my nose.

it's a bit like home brew beer and wine. if the government wants to tax beer in the shops or pub more there is not much I can do, but I ain't paying tax on it if I make it myself.
 
Last edited:
Av8 said:
Sorry for being thick, but how does this idea of what you say for personal use and BIK work? Do you mean through work?
Click to expand...

Benefit in kind (BIK) = list price of Car * BIK rate (2% for EV) * highest tax bracket.

So as a basic rate tax payer with a standard model 3.

£40K * 2% * 20% = £160 per year (edit corrected maths)

A ICE car BIK rate is driven by CO2 and can be very high.
A PHEV is driven by EV only mileage (assuming a minimum CO2 / mile) and is more manageable at around 6-12%

Edit: note that it doesn’t quite work like this, it manifests itself as a reduction in personal allowance so if you are close to a tax bracket it will push you up into it.
 
Last edited:
  • Like
Reactions: Av8
crazyDAJT said:
Benefit in kind (BIK) = list price of Car * BIK rate (2% for EV) * highest tax bracket.

So as a basic rate tax payer with a standard model 3.

£40K * 2% * 20% = £80 per year

A ICE car BIK rate is driven by CO2 and can be very high.
A PHEV is driven by EV only mileage (assuming a minimum CO2 / mile) and is more manageable at around 6-12%

Edit: note that it doesn’t quite work like this, it manifests itself as a reduction in personal allowance so if you are close to a tax bracket it will push you up into it.
Click to expand...
Thank you for that, you summed it up better than I would have!

Just to throw in my own personal company car for those who don't know the magnitude of difference we are talking here...

Seat Leon

£22.7k * 29% * 20% = £1.3k per year... Hence I refer to the BIK gravy train!

I make the model 3 £160 a year but whatever. Near enough one tenth of what I'm paying.

Your edit is quite pertinent too. My personal allowance reduction due in part to the company car meant I lost 40% of my bonus whereas colleagues on the same salary only lost 20%.
 
Last edited:
  • Like
Reactions: Av8
I presume he is running a business so he would have also got the VAT back and saved a bucket load of corporation tax? I guess he didn’t mention that bit?

Priapus said:
I've seen Tesla getting a lot of bad rep in. the US of late. From service issues to quality issues. Have they lost their appeal?

What alternatives are there to something like a Model 3?
Click to expand...

Tesla customer service has always been a bit ropey as it’s hard to speak to someone.

Once you get to the right person it’s fine and the staff at my local centre and mobile ranger are great. It’s the ‘virtual service’ (aka the main call centre) via the app can be a bit slow and/or dense sometimes.

They take a hard line on warranty, if you are 1 mile over when you report the issue, you are out of warranty and they don’t do any goodwill.

Not sure what quality issues you refer to but the cars we get from China are excellent.

I chopped my 3 in for a Y but it’s hard to beat at its price point and I do prefer my old 3 to my new Y but it can’t tow what I need it to tow so it had to go.
 
Last edited:
paradigm said:
Indeed, but £20k might not actually be an accurate figure, it might be for the “shock and awe”.
Click to expand...

9 minutes onwards.
He's got a few vids moaning about EV's and it makes one wonder why he bothered in the first place.
That said from what I can gather from skimming the vid he blames it on the EV "hype", media etc.
I'm not having a dig at EV's and I spent enough time in car sales/finance to know that sort of financial hit happens with ICE as well, although it's fair to say that EV's are problematic in that regard.
 
You must log in or register to reply here.
Back
Top Bottom