Electric Vehicle and ULEV Solution
Figures from the Society of Motor Manufacturers & Traders (SMMT) reveal that over 63,000 new electric or hybrid electric vehicles were registered in 2017 – an astonishing increase on 2013’s figures of around 3,500.
Currently, there are close to 40 models of electric vehicles available for consumers in the UK to choose from.
Understand tax and make the biggest savings
Eligible plug-in vehicles benefit from government grants and tax incentives, which help to reduce the total cost of ownership and aim to make electric cars more affordable for you and your employees. Along with reduced fuel expenditure this is where you can make the most cost savings.
Benefit-in-Kind and Class 1A National Insurance
Company car benefit-in-kind (BIK) tax rates are set in advance to enable businesses to plan their vehicle choice lists and calculate the financial cost to themselves and employees. Like BIK tax, employers’ Class 1A National Insurance contributions, are linked to a car’s CO2 emissions and P11D value.
Below highlights the yearly Class 1A NIC savings for employers.
At £30,000 P11D value
Total (4 years)
Petrol (104 g/km CO2)
Based on this P11D, you would save your business a total of £2,028 in Class 1A NIC over a four year period by choosing the electric vehicle. On a fleet of just 10 models, that equates to a saving of more than £20,000.
Employees will also benefit from Tax Savings, Incentives and grants. The plug-in car grant provides a discount of up to £3,500 for eligible cars and generous grants available help towards the cost of home, workplace and on-street charge-points.
There are significant tax incentives for making the switch to electric. For company car drivers the news is even better, with electric and hybrid cars emitting 50 g/km of CO2 or less incurring a Benefit In Kind tax of only 9% in 2017/18. This can represent huge savings for your employee.
GMP can provide a Fleet Review for organisations considering or looking to expand the use of ULEVs within their fleet. The review includes
- Looking for opportunities to successfully implement ULEVs – Includes whole life costing, charging considerations, operational parameters.
- Implementation Support – Supporting fleets to implement change.
- Identify the vehicle opportunity – Vehicle profiles and where there is an appropriate alternative.
- Understand the costs in their Fleet – Carry out whole life cost analysis vs ICE, factor in grants and tax benefits.
- Driver acceptance – Ensure drivers are educated and fully informed.
Tailor Made Insurance
GMP Drivercare in conjunction with GMG Risk Strategies has put together an Insurance Policy to cover all Electric and Hybrid vehicles. As the motoring experts, we searched a panel of approved insurers to give provide our best possible price. The cover is fully comprehensive to include Third Party, Fire and Theft. Included in this package are Accident Management and Management of the Motor Insurance Database, ensuring cover at all times.
Supply and Installation
With a range of charging solutions to suit your individual needs, standard, fast and rapid, we can provide you with quick quotes or attend a free survey, providing you with a full electric vehicle and charging infrastructure report. Both the full turn-key installation and commissioning services are efficient and professional. Carried out by experienced ground workers and electrical engineers, specifically qualified to install a range of charging equipment and install additional features, such as parking bay signage and protective barriers. Owning a charging station has never been so easy with the optional finance opportunities. Why not spread the cost of a charging station over terms to suit your business?
Given the push from vehicle manufacturers and the government, not to mention the financial benefits to businesses, it seems only a matter of time before electric vehicles are the norm, rather than just the latest emerging technology.