Driving a low emissions car? Find out how your business can benefit from a government scheme

/ Green, SME

Author: Henry Ejdelbaum

Tags: green, Low emissions, Vehicle

One in five new car sales in the UK were either hybrid or fully electric, and last year the government announced a £50m grant scheme to install 50,000 electric vehicle charge points at workplaces and homes across the country by the end of 2025.

The Electric Vehicle Homecharge Scheme (EVHS) is a grant that provides a 75% contribution, up to £350 off the cost of purchasing and installing a charging unit at your premises.

Aside from the actual grant, businesses can benefit from making the switch to a greener choice in different ways such as:

1.     A grant of up to £1,500 on new electric car purchases, up to £35,000 of the total car price

2.     A 130% corporate tax reduction on the costs of installing new charging points

3.     Self-employed can benefit from first year capital allowances if the car has zero emissions, if used by the business.

To discuss other ways how your business can benefit from using low emission vehicles, or benefit from having an accountant, get in touch with your local AIMS Accountant.