Incentives for business and employees
From 6th April 2020 0% benefit in kind tax on electric vehicles (BIK) for year 2020/21
Plug in grant purchase subsidy up to £3,000 for electric vehicles up to £50,0000
100% FYA for businesses purchasing low emission cars has been extended until 31 March 2025
BIK exempt on electricity provided by employers to charge a company electric vehicle
Zero emission electric vehicles are exempt from Vehicle Excise Duty
There are several options for businesses to install electric vehicle (EV) chargers. One option is to purchase and install Level 2 chargers, which can charge an EV in a few hours. These chargers can be purchased from manufacturers such as Tesla, ChargePoint, and Siemens. Another option is to install DC fast chargers, which can charge an EV in a matter of minutes. These chargers are more expensive and require a higher level of infrastructure. Businesses can also participate in charging network programs, where they can offer their parking spaces for EV charging in exchange for a fee. It’s also worth noting that there are several incentives and funding opportunities available to businesses that install EV chargers, such as rebates, grants and tax credit.
Incentive programs are offered and administered by government agencies. Eligibility and availability is outside of Genfit’s control.