trying to figure out best possible solution to getting an electric vehicle for both private and business use. Currently due to end my lease with Land Rover and looking at 2 different options.
Option 1 and likely (Tesla Model 3 or Model y). Low BIK at 1% and going up 2% but does anyone know the 3 and 4 years estimate for the BIK as I find this quite frustrating when you get 36 and 48 month deals on cars?
Option 2 (and more fanciful). Porsche Taycan 4s. BIK still low and would equate to about £1000 for first year rising to £2k when 2% kicks in. For such a nice car still low and business could afford it if bought on finance.
Also It's a bit of a minefield in the best way to go about getting one of these so looking for advice:
VAT not recoverable on Cars; unless it is a contract hire where can get 50% of the VAT back, but capital allowances not allowed with contract hire?
Capital allowances allowed if the cars are bought; would this also include a PCP purchase? This would mean no VAT recoverable though? AIA not allowed for cars.
Am I missing anything else to consider? Obviously the energy crisis is making me think twice a bit- a few months ago the cost of electricity would mean I would have been saving 50% in fuel costs but now it's likely to be similar.
As I will be charging this at home (Office does not have car park) these costs will be personally to myself; Would these be deductible at all? I read fuel charges could not be claimed for Electric vehicles.
Can't really offer much help in the way of suggestions, but expect electric vehicles BIK etc to come more in to line with other vehicles as they become more popular.
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
