WHY A TAX INCENTIVE COULD BE THE BOOST THE EV REVOLUTION NEEDS
THE RISE OF electric vehicles hasn’t been as rapid as some had hoped, stalled by high prices, limited choice and off-putting practicality issues. And despite the growing number of EVs available (and with many more to come in 2020), last year they still made up only 1.6% of UK new car sales. Major change is afoot, with the imminent arrival of transformative benefit-in-kind tax changes (p16). From April, those choosing an EV as a company car will pay no tax at all. Such an appealing incentive will have a significant effect on EV uptake when you consider that company cars accounted for more than half of last year’s UK car sales. EVs won’t be suitable for every mile-munching exec, but the appeal of more money in the bank will no doubt encourage…